The queen of England quietly passed away among her family and friends. During times of uncertainty and global anxiety, we are losing one of the most influential figures in international relations. For many people, the queen was something stable amidst endless chaos and bickering between nations. She was fulfilling her duties during the post-world-war-II period, the cold war, and other global conflicts.
It is hard to accept and understand the ramifications of her untimely death. However, it happened and we have to live with it. While the whole world mourns her departure to a better world, some people are trying to capitalize on her death. We are not talking about countless social media influencers using the news to get more views. We are not talking about people who put out their vile remarks.
The crypto market has been quite lively recently and managed to somewhat recover after a slump a couple of days ago. Bitcoin regained 7% and returned to its position above the $20K mark. ETH saw notable gains as well. The token gained 5% and enjoyed increased trading volume. The whole community is preparing for the upcoming merger. It feels like we have a new wave of optimism hitting the whole market.
Unfortunately, some bad actors decided to use the freedom provided by decentralization and minted NFTs or deployed new tokens that are trying to get momentum by having the queen’s name attached to them. For example, one of the biggest tokens is called Queen Elizabeth Inu. It reached $4K in liquidity and over 1.5K transactions within just 6 hours after the announcement about the queen reached the global news cycle.
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It is something that paints the whole crypto industry in dark colors. The whole situation is uncomfortable for many users who know about the existence of these coins. Yes, they are very obscure, but the sheer number of new tokens that try to meme the death of one of the most influential politicians is quite appalling. We should be using the power of decentralization differently. Hopefully, we will!