Cardano (ADA) witnessed a tremendous rise in price after the non-profit organization Cardano Foundation asked Tesla CEO Elon Musk on Twitter to “get your people to talk to our people.”.
Cardano Foundation started a Twitter thread titled “Cardano x Tesla: An obvious match?” where the handle mentioned many points to compare itself to Tesla. While underscoring the similarities between Tesla and Cardano, the organization said that both the companies are based on 4 pillars: scalability, unique solutions, sustainability, and they being founded by engineers.
The price of Cardano (ADA) skyrocketed just after the thread was posted by Cardano Foundation. It reached an all-time-high (ATH) at US$1.96. ADA reached its new ATH even as the overall bearish trend persists on the crypto market.
At press time, the price of ADA is hovering around US$1.86, which is still an 8.5% jump in the last 24-hours. This spike has also increased its market capitalization significantly. Currently, it is hovering around US$60-billion.
Just like Cardano (ADA), the price of Dogecoin (DOGE) is also witnessing a significant price rise. DOGE price is currently hovering around US$0.5282, a rise of around 20% in the last 24-hours. Reports say that this significant rise in Dogecoin’s price happened after the “Dogefather” Elon Musk tweeted by saying:
“Working with Doge devs to improve system transaction efficiency. Potentially promising.”
In fact, on Monday, SpaceX agreed to accept payment from the Canada-based Geometric Energy Corporation solely comprised of Dogecoin (DOGE).
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