The post Elon Musk’s Grok 3 Announcement Sparks 85% Surge in Grok Token appeared on BitcoinEthereumNews.com.

Grok token price skyrocketed 86% in a week after Musk confirmed Grok 3’s launch, pushing its market cap to $35.5 million. Musk’s AI venture now faces stiff competition from OpenAI, Google’s Gemini, and China’s DeepSeek.  Elon Musk’s AI venture, xAI, is setting the stage for another major shakeup in the artificial intelligence sector with the launch of Grok 3. The announcement, made via Musk’s X account, triggered a 50% rally in the Grok token’s value. The price jumped over the past 24 hours, jumping from $0.003901 to $0.005886. Additionally, GROK has surged over 86% in the past week, now holding a market cap of $33.97 million. However, despite the recent gains, the token remains 81% below its all-time high of $0.02971, which was recorded in November 2023 during the initial launch hype. Grok 3 release with live demo on Monday night at 8pm PT. Smartest AI on Earth. — Elon Musk (@elonmusk) February 16, 2025 “Grok 3 has very powerful reasoning capabilities, so in the tests that we’ve done thus far, Grok 3 is outperforming anything that’s been released, that we’re aware of, so that’s a good sign,” Musk said in a video call at the World Government Summit, Dubai.  Grok 3 Hype Fuels Token Surge The Grok token, which was trading around $0.005579 with a market cap of approximately $35.5 million, saw an uptick following Musk’s announcement. The live demo for Grok 3 is scheduled for Monday at 8:00 PM Pacific time, generating hype within both the AI and the crypto industry. Musk’s claim that Grok 3 is the “smartest AI on Earth” further intensified investor interest. Historically, Musk’s ventures have always influenced token markets. Several Grok-related tokens previously spiked by over 30,000% in late 2023 after xAI’s initial AI model announcement. However, the sustainability of such price increases…

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Filed under: News - @ February 17, 2025 12:19 pm