Cardano’s native token ADA experienced a dramatic 35% price surge following founder Charles Hoskinson’s announcement of his planned involvement in shaping U.S. cryptocurrency policy under the Trump administration.
The token breached the 58-cent mark, reaching levels not seen since April, while posting impressive weekly gains exceeding 77%. Trading activity intensified significantly, with volumes skyrocketing from $300 million on Friday to $3.3 billion on Saturday.
Futures markets reflected growing investor interest, with ADA-denominated open interest reaching 858 million ADA (approximately $500 million), suggesting increased speculation on potential future price movements.
During a Friday podcast on X, Hoskinson outlined his commitment to working with Washington lawmakers. “I’m going to be spending quite a bit of time working with lawmakers in Washington DC to help foster and facilitate with other key leaders in the industry with the crypto policy,” he stated, emphasizing the necessity of this engagement.
The surge in ADA’s value coincides with broader market optimism following Donald Trump’s presidential victory and the Federal Reserve’s latest round of rate cuts. However, analysts attribute the token’s exceptional performance primarily to Hoskinson’s announced policy initiatives.
