Cardano Founder Hoskinson Plans To Collab with Elon Musk – But There’s a Twist!
The post Cardano Founder Hoskinson Plans To Collab with Elon Musk – But There’s a Twist! appeared first on Coinpedia Fintech News
The Cardano community has been abuzz with rumor and speculation as Cardano founder Charles Hoskinson has unveiled plans to potentially engage with the famed American businessman and Tesla CEO, Elon Musk. This discloser came in response to an inquiry from an X user about whether Hoskinson had previously interacted with Musk.
Saving “the Card” for “Something Big”
In a recent interaction on X, a crypto user posed a direct question to Charles Hoskinson, the founder of Cardano. The user inquired, “Have you hit up Elon Musk? I’m sure billionaires have some sort of group chat going on. But for real, I’m sorry, man. It sucks when they don’t even tell you what you did wrong.”
Hoskinson’s response shed light on his strategic approach to engaging with high-profile figures like Musk. He replied, “You only get to pull that card once. I’m saving it for something big.”
This statement suggests that Hoskinson is waiting for a particularly significant moment before reaching out to Musk, indicating the importance he places on making such a connection count.
This news has fueled a 3% surge in Cardano’s price, bringing it to $0.46. The market cap now stands at $16.2 billion. Reflecting this positive trend, the trading volume has also increased by 4%, reaching $301 million.
Previous Interactions and Proposals
This is not the first time Hoskinson has considered working with Musk. In April 2022, amid speculation about Musk’s interest in acquiring Twitter, Hoskinson proposed collaborating on a decentralized version of the platform.
While there were rumors of a meeting between Hoskinson and Musk at X headquarters, these were neither confirmed nor denied by Hoskinson. A collaboration between Hoskinson and Musk could have far-reaching implications for the cryptocurrency market, particularly for Cardano and its native token, ADA.
Musk’s Influence To Surge ADA
Musk’s influence in the crypto space is well-documented, with his backing often causing significant market movements. For example, Musk’s support for Dogecoin dramatically increased its value, reaching an all-time high of $0.7376 in May 2021. A similar endorsement for Cardano could potentially drive ADA’s price to unprecedented levels.
How Cardano Price Will React
Looking at the technical analysis, the RSI has breached the 50-level on the 4-hour chart for the first time since it fell below it on May 23, suggesting a bullish divergence formation. This setup indicates that momentum is rising, which has already triggered a 15% increase in ADA’s price.
If this trend continues, ADA could climb further to revisit the $0.496 and $0.52 resistance levels.
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