ADA Price Explodes as Cardano’s Founder Makes Major Announcement

Bull run is ongoing and a lot of altcoins are pumping and producing nice gains for holders. One of those is Cardano's ADA. The ADA price pumped over 30% today

Cardano (ADA) price soared more than 30% on Friday after the founder of the blockchain network announced his intention to work with the Trump administration on cryptocurrency regulations.

At the time of writing, ADA price trades at $0.58 and? 32% over the past 24 hours. The token is also up more than 70% over the past seven days, making it one of the best performers among the top 10 cryptocurrencies by market capitalization.

Cardano founder to work with Trump administration on crypto policy in 2025

According to Hoskinson, he will work with lawmakers and the administration to establish a policy office at Input Output Global (IOG). The office will work on combining two existing frameworks, the Financial Institutions Transparency (FIT) Act of 2021 (FIT21) and the Responsible Financial Innovation Act (RFIA), to get a bipartisan bill passed.

“I will work with lawmakers and the administration. IOG will establish a policy office to hybridize FIT21, RFIA, to get a bipartisan bill passed. I have personal friendships with the Trump administration. I hope to be part of that.”

The Trump administration showed interest in crypto regulation during the last term in office. Officials held meetings with representatives from the crypto industry and discussed various regulatory approaches. However, no concrete legislation was passed before Trump left office in January 2021.

Now, following Trump’s recent victory in the 2024 presidential election, Hoskinson’s announcement could pave the way for renewed efforts to establish clear and effective crypto regulations in the United States.

The crypto market largely reacted positively to Trump’s victory. As reported by Finbold, seven out of the top 10 cryptocurrencies surged following the announcement.

ADA price outlook as Trump crypto announcement boosts token

ADA had an impressive week, with the price surging more than 70%. At the beginning of the week, ADA price was trading at $0.3 and now? holders await whether the price will have a weekly close above $0.6.

The technical indicators are giving mixed signals at the moment. The RSI is at 73, indicating that ADA may be slightly overbought. The MACD is also not helping – it just crossed below its signal line, which usually indicates a possible pullback.

However, if the bulls continue to control the chart, $1 for ADA is not out of the question sometime this month. Of course, for this to happen, the market needs to continue behaving in this way, all “green.”

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