Cardano’s founder Charles Hoskinson has an active social media presence through which he maintains engagement with the community. His latest podcast particularly captured the attention of many because it was addressed to Elon Musk on how to create a decentralized Twitter. Here’s AMBCrypto’s price prediction for Cardano [ADA] 2022-2023 Hoskinson’s proposal urged the Tesla CEO […]
Hoskinson’s proposal featured ideas on how to monetize the platform using prediction markets and economic agency. He also suggested turning tweets into NFTs. The Cardano CEO further recommended using cryptocurrencies to monetize Twitter.History has proved that Elon Musk tends to embrace ideas that are often considered wild or beyond the normal scope. It would not be surprising to see the Tesla CEO embrace the Cardano CEO’s idea.
ADA traded at $0.40 as of 7 November after a 7% retracement from its latest local peak on 5 November. However, ADA’s price at press time, traded at $0.38 after suffering a price correction of 5.4% in the last 24 hours. However, contrary to the above-mentioned information, ADA did manage to pull off a 30% upside in the last three weeks. But, its latest upside seems to have encountered resistance near the $0.43 price level. This is the same level that the price retraced from in the last three to four days.. A sharp drop in its velocity was also observed in the last three days, indicating that the bullish momentum was losing steam.
A positive response from Elon Musk with regards to Hoskinson’s proposal would be a strong forward move for Cardano. It would also likely trigger another bull run for ADA.Subscribe to get it daily in your inbox.
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