Cardano's ADA Soars 33% as Founder Plans to Influence U.S. Crypto Policy Under Trump Administration

Cardano's ADA tokens just shot up by 33% in the last 24 hours. That’s impressive! This surge outperformed Bitcoin and other major cryptocurrencies.

So, what’s driving this excitement? It all comes down to founder Charles Hoskinson. He recently shared plans to influence U.S. crypto policy under the Trump administration. This news sparked a lot of speculative interest in ADA.

ADA’s price climbed above 58 cents for the first time since April. In fact, it has gained over 77% in just a week! Trading volumes also jumped to $3.3 billion on Saturday, a huge leap from $300 million the day before.

There’s more. The open interest in ADA futures rose to 858 million ADA, which is over $500 million at current prices. Open interest shows how many futures contracts are still unsettled. It’s a good indicator of new money flowing into the asset, suggesting that people expect more volatility ahead.

This all happened during a generally positive week for cryptocurrencies. Donald Trump was elected as U.S. president, and the Federal Reserve announced new rate cuts on Thursday. These events helped boost all major tokens.

Back to ADA—much of the excitement likely stems from Hoskinson’s commitment to help shape U.S. crypto policy. He discussed this in a podcast last Friday.

He said, “I’m going to be spending quite a bit of time working with lawmakers in Washington, D.C. to help foster and facilitate crypto policy.” That’s a big deal!

He also mentioned that the Cardano development lab, Input Output, plans to open a local office to support policy development. Hoskinson expressed his hope to be involved in shaping actual policy when Trump takes office.