Kava Network, which is behind the KAVA altcoin project, was on the agenda with its cold joke on April 1st the other day. The project, which said that it partnered with Tesla as an April 1 joke, received a great reaction. Here are the details…
“We partnered with Tesla” joke from altcoin KAVA
Kava is a layer-1 Blockchain that says it combines the speed and interoperability of Cosmos with the developer power of Ethereum. Looking at the latest developments, we can say that it is a project with an interesting sense of humor. Yesterday, April 1, the Kava Network’s official Twitter account posted a tweet that reads:
Elon Musk has confirmed Kava as the first L1 network to power yield farming while you drive We are very excited to announce. Coming to all Teslas starting tomorrow.
After this tweet, the price of KAVA surged from $4.29 to $4.95, according to CoinMarketCap. As can be seen from the chart above, the coin seems to have peaked around the time the tweet was published. It then fell sharply to $4.42. The coin, which is ranked 111th by market capitalization, is changing hands at $4.58 with an increase of 4.9 percent at the time of writing.
Investors are outraged
In an area with a total market cap of over $2 trillion, it’s worth noting that this kind of joke is not tolerated by investors. Some investors, who think that Tesla’s partnership will bring a big profit, state that they saw Kava’s tweet and invested their savings in this coin, but they suffered a great loss when this event turned out to be a joke. Meanwhile, we can say that Kava deleted the joke tweet in question and did not make any further statement afterwards.
Some have filed a complaint against Kava with the SEC. As we have also reported as Kriptokoin.com, the SEC is the US Securities and Exchange Commission and has various studies to protect investors. Others demand that the cryptocurrency listed on Binance be delisted. Some of the investors conveyed their requests to Binance CEO Changpeng Zhao. KAVA has also made no apology and is trading on the green board at the time of writing.
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