Cardano's ADA Tokens Surge 33% as Founder Plans to Shape US Crypto Policy Under Trump Administration

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Cointime2024/11/10 16:12

By:Cointime

Cardano's ADA tokens experienced a 33% surge in value over the past 24 hours, surpassing bitcoin and other major cryptocurrencies. This increase in value is attributed to founder Charles Hoskinson's announcement that he plans to assist in shaping U.S. crypto policy under the Trump administration. ADA's trading volumes also saw a significant increase, reaching $3.3 billion on Saturday compared to $300 million the day before. Additionally, open interest in ADA-denominated futures rose to 858 million ADA, indicating an influx of new money and expectations of higher volatility in the future.

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Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan•2024/11/24 03:44