Charles Hoskinson Was a Huge Fan of the bitUSD Stablecoin and Talked About Rebuilding the Project Once His Work at Cardano Was Done

Cardano (ADA) is in the news as a “made in America” crypto asset, coinciding with the re-election of Donald Trump as the US President.

A crypto asset that is “made in America” is gaining attention following the re-election of Donald Trump as the US President. Created nearly a decade ago by Ethereum co-founder, the Layer 1 blockchain is now being eyed for potential growth.

An X (formerly Twitter) account went through all the posts drafted by Hoskinson on the social media platform over the years. The first mention that the account found of Cardano was during a debate about the collapse of bitUSD.

Hoskinson's Dedication to CardanoHoskinson was a big fan of the bitUSD stablecoin and talked about rebuilding the project once his work at Cardano was done. However, the rebuilding phase never came as Hoskinson has been actively working on the Cardano blockchain since at least 2015, launching it in September 2017.

First ever mention of it on here. Building a little thing called Cardano https://t.co/59OcLPLIr1

The X user added that there is potential in Cardano, given that Hoskinson has stood by his blockchain project since day one. They see the protocol as “naturally growing, headed to greatness.”

It is important to note that CoinMarketCap lists ADA as one among the “Top Made in America” tokens. With the US having welcomed its first-ever pro-crypto president, ADA could see significant growth in the coming days.

Related: Is Cardano’s ADA Gearing Up for a Major Rally to $14?ADA Price: Key Levels to WatchWhile ADA is still down 75.75% from its all-time high of $3.10 seen during the peak of the previous crypto market cycle, the cryptocurrency soared 48.37% in the past year and trades at $0.7533 at the time of writing. The altcoin needs to reclaim $1 and make a move towards $1.5 to confirm the continuation of its uptrend.

Technical Indicators: Mixed SignalsThe Relative Strength Index (RSI) for the ADA price action reads a value of 29.49 which confirms that the altcoin is now oversold. This could be a good entry point for investors as the gradient of the line suggests a strong control of bears.

Related: SUI and ADA in the Running for US National Crypto Reserve StatusOn the other hand, the ADA price action is testing the support at the lower region of the Bollinger Bands. If the altcoin loses the $0.75 price level, there is a possibility of a bearish breakout.

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