Hacker group Anonymous creates its token to fight against Elon Musk and China

The recent crypto environment has raised many concerns for investors, especially with growing regulatory challenges. Anonymous, a group of decentralized international hackers known for their high-profile cyberattacks against governments, corporations, etc., has predicted that Bitcoin will recover.

In their recent video, they mentioned the ongoing crackdown in China and explained that it is a deliberate act of the Chinese Communist Party (CCP) government to ditch its competing digital Yuan currencies.

Before the massive crackdown, a large part of the hash power of the Bitcoin network was in China. China was very favorable to crypto miners because of its cheap electricity, especially in facilities close to hydroelectric dams. With the majority of Bitcoin miners located in China, the crackdown has had a considerable effect on the market, being the reason for the massive crypto dump in May.

Anonymous explained that miners in China had to sell many of their Bitcoins to cover the costs of moving their infrastructure. The selling pressure created a downward movement in the market. Although the crackdown was aimed at Bitcoin, other crypto assets posted negative growth because they are still following Bitcoin's trajectory.

The situation is temporary

According to Anonymous, the situation in the market is temporary, as miners have started to move to Kazakhstan and other countries. As prices stagnate, institutional investors are also buying the dip in Over-The-Counter (OTC) platforms. In OTC, large investors can buy without raising prices. The hacker group understands that although these are private sales that are made on the exchange, it takes cryptocurrencies out of circulation, which will lead to a massive increase in prices once the market takes into account the additional scarcity.

Anonymous also mentioned that there is hope for the market. According to them, the markets have stabilized and are now moving sideways. This means that prices rise and fall on the price curve. In general, the price stays within a close range, which is known as consolidation.

"This is a positive signal from the market, and the reason why many crypto experts have predicted a rally for the end of July and August."

Anonymous announces "Anon Inu" to wage war against China

"We believe that crypto is about to start, which is why we have launched the 'Anon Inu token.' This token is a new token from the decentralized finance community (Defi) with several built-in utilities. "

According to them, the token will fight Tesla's Elon Musk in a meme war and China in a cryptocurrency war. Anon Inu token holders will regularly receive free tokens, NFTs, and other prizes. The team will also donate a portion of their profits to animal shelters to help the dogs. Token holders will also receive a free Anon Inu profile NFT picture.

Therefore, they warned their followers to only use the verified products.

“There will be more details on the NFT airdrop. Use only verified products and tokens. There are a lot of copycats who will probably capitalize on the Anon name. "