A recent episode of Thinking Crypto podcastCharles Hoskinson is the founder of Cardano and he addressed rumors that Elon Musk was interested in forming a partnership. Hoskinson talked about the outreach efforts he made towards Musk’s company, as well as offers for free services, during the Tony Edwards podcast. work Twitter X, formerly Twitter, has been updated to address bot problems.
Hoskinson denies rumors of a partnership with Musk
Hoskinson detailed multiple attempts made by his team in order to reach out to Musk’s businesses, X (formerly Twitter), and propose solutions for prevalent issues such as fake accounts and bots. “We’ve reached out numerous times to try to engage with various people at X, even offering to do free work with verified tweets or other things just because it’s so bad right now with bots and these other things, and it’s just always silent,” Hoskinson lamented.
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Musk, in spite of these efforts has confirmed that he never spoke to anyone personally about Cardano and any potential collaboration. “I even know Kimbal Musk and I’ve talked to him on several occasions […] never once has [Elon] mentioned Cardano or me or anything,” He added.
Musk’s well-known companies like SpaceX, or Cardano could have used the Midnight Sidechain. Tesla. Musk’s interest in cryptocurrency, and his influential endorsements of Dogecoin had sparked speculative enthusiasm amongst investors and enthusiasts.
Hoskinson, despite having shared mutual connections and friends such as Lex Friedman (a podcaster), expressed disappointment and sadness over Musk’s lack of involvement. “We share mutual friendships so I don’t know why we haven’t been able to square that circle […] maybe he’s got some people in his social circle that don’t like me and so he’s got some intel that I’m a bad person to work with or maybe it’s just he wants to do his own thing,” Hoskinson speculated.
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Hoskinson referred to Musk’s opaque persona, and unpredictability of his business actions. “He’s a magical guy. So it’s really like a sphinx hard to understand his motivations and understand why he does what he does. Why does he have this bizarre fetish for Dogecoin? Is it that he owns 20% of the supply…don’t know with a guy like that that’s the magic of Elon Musk.”
Cardano Bears Remain In Control
The ADA has seen a drop of 2,2% in the past 24 hours. This coincides with a general downtrend on the altcoin markets. The trading volume of ADA also decreased significantly. It fell 22%, to $357 Million over the same time period.
Since mid-March, the ADA price consistently trades below its 20-day Exponential moving average (EMA). This has been a major resistance level. While ADA briefly surpassed the threshold, it was eventually met with strong resistance from the 200-day EMA. It was unable sustain its upward movement.
The 20-day EMA is currently $0.445, and this level of resistance will be critical in the near term. Passing through this resistance level could indicate a possible shift in the market’s sentiment and pave the way for a rally to the 200-day EMA, which is $0.494. This longer-term EMA can be decisively broken above to establish a strong bullish trend in ADA.
Chart from TradingView.com, Featured Image from YouTube
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Source: www.newsbtc.com