Charles Hoskinson: Mike Novogratz Called Cardano a Cult Because There Is No Means for Manipulation
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Mike Novogratz, the CEO of Galaxy Digital, has recently stated that he has accepted a call with the CEO of IOG, Charles Hoskinson who is the creator of Cardano (ADA), to prove him wrong over his bearishness on Cardano (ADA).

With a number of questions posted on Twitter on 9th March, Novogratz challenged the use cases of Cardano and why the digital currency ADA accrued so much market capitalization.

Read Also: Cardano (ADA) Has Officially Advanced into Multi-Asset Era Following Successful Mary Hard Fork

Mike Novogratz tweeted, “Last question before I go shower, can anyone make a real bull case for ADA? Does anyone build on it? Use it? Why is market cap so high? Should it be a funding asset? It’s one of the few cryptos I haven’t traded in my life.”

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The tweet received a lot of engagements from the crypto community members, especially Cardano enthusiasts. Some were of opinion that the popular entrepreneur was only trying to consider an investment in Cardano (ADA), just the way he invested in Cardano’s arch-rival, Ethereum (ETH) years ago.

Charles Hoskinson also reacted to the tweet, urging Novogratz to have a call with him. Hoskinson opines to convince him in relation to the narrative surrounding the Cardano project.

Read Also: Cardano’s IOG Releases First Ever Multi-Asset Daedalus Wallet Ahead of Mary Protocol Upgrade

“Happy to have a call Mike”

Mike Novogratz accepts call with Charles Hoskinson

Mike Novogratz, the CEO of Galaxy Digital, has now accepted a call with Hoskinson, in a bid to hear convincing words that could change the bearish thought about Cardano and its native token ADA.

He reiterated that the current market capitalization of Cardano (ADA) is too much for the engagement garnered by the project.

Read Also: Charles Hoskinson: 591 Assets Minted On Cardano in Just 8 Days into Multi-Asset Era

Mike Novogratz wrote, “Really appreciate the engagement on this question. Maybe the most I’ve ever gotten on a question. I am bearish but will do a call with Charles Hoskinson next week. Maybe he can convince me that I’m wrong. Just seems too much market cap for the amount of engagement. I keep it simple.”

Cardano (ADA) in the Market

Over the past few days, Cardano (ADA) has failed to replicate the usual surging trend it has been printing since the beginning of 2021. The cryptocurrency has since lost the third and fourth positions in the market to Binance Coin (BNB) and Tether (USDT) due to the lethargic price performance.

Read Also: Investors See Alternative to BTC in Cardano (ADA) – eToro’s Resident Crypto Expert

According to analysts, Cardano is currently in the state of accumulation, stating that the cryptocurrency could start its usual surging trend anytime soon. At the time of filing this report, ADA is trading at $1.06, with a 5.43% price downtrend in the last 24 hours.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.