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Cardano Founder Rejects Web Summit, Emphasizes Innovation Over Politics

Cardano’s Charles Hoskinson Bypasses Web Summit Event in Favour of AMA; AXO DEX Goes Public on Testnet, ADA Token Sees Price Rise

In a move that underlines tensions between technology and politics, Charles Hoskinson, the founder of Cardano, has declined an invitation to speak at the Web Summit event. This news comes alongside updates on Cardano’s AXO Decentralized Exchange (DEX) launching a public testnet, and an upswing in ADA token’s price. Here is a rundown of the key developments taking place at Cardano.

Charles Hoskinson Declines Invitation to Speak at Web Summit Event

Announced on Twitter, Hoskinson criticized the increasing politicization of technology conferences. According to him, these forums, like the Web Summit event, are becoming more about “political posturing” and less about “sharing innovative concepts and fostering collaboration.” As an alternative to his participation in the summit, Hoskinson has declared his intention to host a five-hour Ask Me Anything (AMA) session to engage directly with the Cardano community.

Unmasking the AXO Decentralized Exchange (DEX)

On the technology front, there is exciting news on the Cardano network. The long-awaited AXO Decentralized Exchange (DEX) has launched a public testnet. This is a vital step forward in Cardano’s ambition to revolutionize decentralized finance (DeFi). This new DEX is set to introduce programmable swaps, which are aiming to tackle current market inefficiencies. These programmable swaps boast an improved security framework, as users will not have to surrender custody of their digital assets. The launch of the AXO DEX forms the foundation for developing specialized financial platforms on the Cardano blockchain.

Price Rise for Cardano ADA Token

In terms of market movements, the Cardano ADA token has seen a modest price increase over the last 24 hours, trading at around $0.26. Crypto analysts speculate that this increase may be the result of recent whale acquisitions and a rise in Cardano’s network daily participation rate. These factors could potentially trigger a significant ADA price breakout in the near future. In conclusion, the Cardano ecosystem continues to generate buzz in the crypto space. From Hoskinson’s rejection of Web Summit attendance on political grounds and choosing a more direct engagement with the community, to the launch of AXO DEX on public testnet and ADA token’s price surge, Cardano maintains its momentum. As always, it’s crucial for investors to stay informed about these developments and monitor their potential impact. After all, as the crypto landscape evolves and the integration of politics becomes more apparent, it is these updates and insights that will constitute an integral part of their crypto investing journey.

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