A highly anticipated showdown between crypto influencer Ben “BitBoy” Armstrong and memecoin developer “More Light” turned out to be more than just a chaotic brawl. The battle between the two also had an impact on their associated memecoins, BEN and BITCOIN, which experienced significant price fluctuations before and after the fight.
The clash took place at a crypto influencer fight night organized by Karate Combat, a combat sports company, in Mexico on February 24. More Light, the pseudonymous developer of BITCOIN, revealed that he decided to participate in the fight on a whim, just four weeks before the event. He casually mentioned to the organizers that if BitBoy’s opponent dropped out, he would be willing to fight. More Light admitted that he had not been training and was taken by surprise when he saw Armstrong’s high energy and aggressive approach.
Leading up to the fight, Polymarkets, a decentralized betting app, reported that 62% of bets were placed on More Light, making him the crowd favorite. However, Armstrong emerged as the victor after three intense two-minute rounds, winning by unanimous decision.
Following Armstrong’s win, the price of BITCOIN plummeted more than 20% within four hours, dropping from $0.052 to $0.040. However, the token quickly recovered and is now trading at around $0.056, marking a 40% increase since the end of the fight. On the other hand, the price of BEN, the memecoin associated with Armstrong, surged 87% after his victory, skyrocketing from $0.000004 to $0.0000075 in just six hours. However, it has since fallen back to approximately $0.000005.
More Light emphasized that there is no animosity between him and Armstrong in real life and described Armstrong as a “good guy” in person.
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The fight garnered mixed reactions from industry experts in the crypto space, with some finding amusement in the spectacle while others criticized Armstrong. However, the impact of the fight on the memecoin market has drawn attention to the potential influence of such events.
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