Cardano's ADA tokens surged 33% following founder Charles Hoskinson's announcement to shape U.S. crypto policy under the Trump administration, fueling speculative interest.
The rise in ADA's price can be largely attributed to a speculative frenzy triggered by Hoskinson's statements, aiming to support crypto policy in Washington.
Open interest on ADA futures reached over $500 million, indicating significant new investments as traders anticipate higher volatility and further price movements.
During a bullish week for cryptocurrencies, ADA's strong performance aligned with Trump's election and the Federal Reserve's rate cuts, enhancing market sentiment.
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