During a recent episode of the Thinking Crypto podcast, Charles Hoskinson, the founder of Cardano, refuted speculations of a prospective collaboration with Elon Musk.

Hoskinson outlined many initiatives undertaken to engage with Musk’s enterprises, specifically X (formerly known as Twitter), in which they presented remedies to address the problem of bots. Nevertheless, Hoskinson verified that Musk has not engaged in any personal discussions regarding Cardano or any future collaboration.

The founder’s remarks effectively dispelled rumors that had implied possible applications of Cardano’s innovations, such as the Midnight sidechain, in Musk’s prominent enterprises like SpaceX or Tesla.

The fervent anticipation surrounding this formidable collaboration had been a topic of conversation among investors and fans, owing to Musk’s well-documented fascination with cryptocurrencies and his influential sponsorships of Dogecoin.

Although having mutual acquaintances and professional connections, Hoskinson voiced perplexity and a tinge of sadness at Musk’s lack of involvement. He hypothesized that the reason could be his social circle’s aversion towards him or his desire for independence.

Hoskinson observed the cryptic nature of Musk’s demeanor and his unpredictable business decisions, expressing the challenge of comprehending his objectives and the rationale behind his actions.

In addition, he observed that the price of ADA had a decline of 2.2% within the past 24 hours, which occurred simultaneously with a general downward trend in the altcoin market. The trading volume for ADA experienced a substantial reduction, declining by 22% to $357 million within the same period.

Yesterday, a crypto analyst, @Av_Sebastian, has made a prediction that the price of Cardano may potentially increase by as much as $2.