Recently, a new episode of Thinking Crypto was aired. podcastCharles Hoskinson addressed the buzzing rumors of a partnership with Elon Musk. During the Tony Edwards podcast, Hoskinson talked about various outreach attempts made by Hoskinson to Musk’s businesses, such as offers to do free work in order to fight bots on Twitter (now X).
Hoskinson denies rumors of a partnership with Musk
Hoskinson presented several attempts made by his team in order to reach out to Musk’s businesses, especially 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 confirmed, however, that he has not personally discussed Cardano with Musk or any possible 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 for Dogecoin had sparked a lot of speculation and excitement amongst investors and enthusiasts.
Hoskinson was confused and saddened by Musk’s non-engagement despite the fact that they shared friends and connections, such as Lex Friedman. “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 market price has dropped by 2.2% during the last 24 hour period, a decline that is in line with a larger downtrend of the altcoins. 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), a level of resistance. ADA did briefly surpass this threshold. However, the 200-day EMA was able to stop its upward trend.
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. If ADA breaks decisively above the longer-term EMA, it could establish a positive trend.
Chart from TradingView.com, Featured Image from YouTube
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Source: www.newsbtc.com
