Cardano Drops As Hoskinson Clarifies Relationship To Elon Musk


In
a
recent
episode
of
the
Thinking
Crypto

podcast,
Charles
Hoskinson,
founder
of
Cardano,
addressed
the
swirling
rumors
about
a
potential
partnership
with
tech
mogul
Elon
Musk.
During
the
podcast,
hosted
by
Tony
Edwards,
Hoskinson
discussed
various
outreach
efforts
made
to
Musk’s
companies,
including
offers
of
free
work
to
combat
bot
issues
on
the
platform
formerly
known
as
Twitter,
now
X.

Hoskinson
Denies
Rumors
Of
A
Partnership
With
Musk

Hoskinson
detailed
several
attempts
by
his
team
to
connect
with
Musk’s
companies,
particularly
X
(formerly
Twitter),
where
they
proposed
solutions
to
combat
prevalent
issues
like

How To Get Free Crypto  

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.


Related
Reading

Despite
these
efforts,
he
confirmed
that
Musk
has
never
discussed
Cardano
or
any
potential
collaboration
personally.
“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.

The
founder’s
comments
served
to
quash
rumors
that
had
suggested
potential
uses
of
Cardano’s
technologies,
like
the
Midnight
sidechain,
in
Musk’s
high-profile
companies
such
as
SpaceX
or

Tesla.
The
speculative
excitement
around
such
a
high-caliber
partnership
had
been
a
point
of
discussion
among
investors
and
enthusiasts,
given
Musk’s
known
interest
in
cryptocurrency
and
his
impactful
endorsements
of
Dogecoin.

Coinbase Banner  

Despite
sharing
mutual
friends
and
professional
connections
such
as
podcaster
Lex
Friedman,
Hoskinson
expressed
confusion
and
a
bit
of
melancholy
over
the
lack
of
engagement
from
Musk.
“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.


Related
Reading

Addressing
Musk’s
enigmatic
persona
and
unpredictable
business
moves,
Hoskinson
noted,
“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
price
saw
a
decrease
of
2.2%
over
the
last
24
hours,
a
dip
that
coincides
with
a
broader
downtrend
in
the
altcoin
market.
Trading
volume
for
ADA
decreased
also
significantly,
falling
22%
to
$357
million
over
the
same
period.

FreeBitcoin Banner  

The
ADA
price
has
consistently
traded
below
the
20-day
Exponential
Moving
Average
(EMA),
which
has
acted
as
a
key
resistance
level
since
mid-March.
While
there
was
a
brief
period
where
ADA
surpassed
this
threshold,
it
eventually
faced
strong
resistance
at
the
200-day
EMA
and
was
unable
to
sustain
its
upward
momentum.

As
such,
the
20-day
EMA,
currently
at
$0.445,
is
a
critical
near-term
resistance
level.
Surpassing
this
barrier
could
signal
a
potential
shift
in
market
sentiment,
paving
the
way
for
a
rally
towards
the
200-day
EMA
at
$0.494.
A
decisive
break
above
this
longer-term
EMA
could
firmly
establish
a
bullish
trend
for
ADA.

ADA
trades
below
the
20-day
EMA,
1-day
chart
|
Source:

ADAUSD
on
TradingView.com

Featured
image
from
YouTube,
chart
from
TradingView.com

Go to Source
Author: Jake Simmons


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.