Will Cardano’s Hoskinson and Sam Altman pair up soon?
- Charles Hoskinson reached out to Sam Altman for a project.
- ADA’s price increased after the tweet.
Cardano’s [ADA] founder Charles Hoskinson has openly asked the embattled former CEO of OpenAI Sam Altman to join him in a project. Hoskinson acknowledged Altman’s expertise may come in handy in building a decentralized LLM for the Cardano blockchain.
Sam @sama since you have some free time now. If you are interested in doing a decentralized LLM, then hit me up. Would be a fun Cardano Partnerchain
— Charles Hoskinson (@IOHK_Charles) November 18, 2023
LLM is an acronym for Large Language Models. It is described as an advanced Artificial Intelligence (AI) model developed to train and recognize different human languages.
A decentralized LLM is an AI model that leverages blockchain technology for improved security and transparency for a project.
A quick job offer for the man
Hoskinson’s request was born out of the fact that Altman may have free time on his hands. This is majorly because of his firing that took place recently, as AMBCrypto reported.
Besides, that Cardano has been wrestling the top spot for development activity with Polkadot [DOT] for a while. Should Altman agree to the proposal, then the project might cement its position as the leader as per the metric.
AMBCrypto considered evaluating the state of Cardano’s development activity. Using Santiment’s on-chain data, the analysis revealed that there has been a slight drop in the metric. The development activity measures the dedication developers have toward upgrades on a network.
An increase in the metric suggests a surge in the number of new features shipped. On the other hand, a decrease implies a decline in the rate of network polishing.
However, the fall in development activity does not take away the fact that Cardano has some major milestones during the week.
Bullish for ADA, but a low chance for Cardano
Another metric worthy of consideration is the Weighted Sentiment, which shows whether the crowd is bullish or bearish on a project. In the last seven days, Cardano’s Weighted Sentiment had moved from 0.218 to 1.529.
This increase implies that the market has switched from a pessimistic view to an optimistic one. This thought process was also evident in ADA’s price action. At press time, ADA’s price was $0.37. The spike was a result of a 6.60% 24-hour increase.
But are traders still bullish on ADA? Well, indications from the Funding Rate seem to think so. At the time of writing, the Funding Rate was 0.01%. Funding rates tell if open positions in the derivatives market tilt toward the upside or if traders are projecting a downtrend.
Since the Funding Rate was not negative, it means traders have more positions predicting another hike for ADA. Meanwhile, Hoskinson’s call to Altman may not yield anything positive yet.
Realistic or not, here’s ADA’s market cap in DOT’s terms
This inference is due to the complicated circumstances around the revered OpenAI co-founder. At press time, employees of the AI firm have asked the company’s board to reinstate him. The board has been considering it, according to CNN Business.
Should OpenAI recall Altman, and he agrees, it may become difficult for Hoskinson to get his way.