The organized fight between crypto influencer Ben “BitBoy” Armstrong and memecoin developer “More Light” turned out to be more than just a physical altercation, as their associated memecoins experienced significant price movements before and after the match. Here’s a recap of the event and its impact on the crypto market:
The bout took place at a crypto influencer fight night hosted by Karate Combat in Mexico on February 24.
More Light, the pseudonymous developer of BITCOIN, took up the fight “on a whim” roughly four weeks before the event after the original opponent dropped out.
Despite being the crowd favorite according to pre-fight data from Polymarkets, More Light was surprised by Armstrong’s aggressive approach during the match.
Armstrong emerged victorious by unanimous decision after three two-minute rounds of fighting.
Following Armstrong’s win, the price of $BITCOIN initially plunged more than 20%, while the price of the BEN memecoin surged 87%.
However, both tokens experienced subsequent price corrections, with $BITCOIN rebounding and BEN falling back to its previous levels.
Despite the competitive nature of the fight, More Light emphasized that there was no animosity between him and Armstrong in real life, describing Armstrong as a “good guy.”
The fight garnered mixed reactions from the crypto community, with some finding amusement in the spectacle while others criticized the attention given to Armstrong solely based on his victory.
The event highlights the intersection of crypto culture with mainstream entertainment and its potential impact on associated projects and tokens, underscoring the unique dynamics of the crypto ecosystem.
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