Cardano Soars To 7-Month High As Founder Charles Hoskinson Teases Potential Crypto Policy Role In Trump Administration
Posted On November 11, 2024
Cardano (CRYPTO: ADA) rallied to its highest level in seven months after founder Charles Hoskinson said he would help to shape cryptocurrency policy under President-elect Donald Trump’s administration.
What happened: ADA, the native cryptocurrency of the ecosystem, surged 15% over the past 24 hours, witnessing a 353% jump in trading volumes.
The ninth-largest cryptocurrency by market capitalization leaped to an intraday high of $0.65, to later pull back below $0.60.
With gains of over 78% over the week, ADA was one of the best-performing large-cap cryptocurrencies in the said time.
The rally was spurred by Hoskinson’s statement about taking a proactive role in Washington to push for a clear regulatory framework for cryptocurrencies.
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