US President Donald Trump’s special mention of Cardano (ADA)

In the next couple of years, ADA struggled to build significant momentum to surpass the $1.

The price of Cardano (ADA) has risen sharply following a special mention by US President Donald Trump, who included the token in his administration’s planned crypto reserve.

The cryptocurrency asset and other altcoins have been steadily building momentum, especially after the presidential candidate, known for his bullish stance on crypto, announced his plans for a government-issued crypto reserve that would serve as a backup to the US dollar.

The presidential candidate's statement, which came during a televised interview on Sunday, had a swift impact on the crypto market,

The candidate's suggestion to include Cardano, specifically highlighting its strengths in smart contracts, piqued the interest of viewers.

The candidate's surprising confirmation of Cardano as part of his regime’s proposed crypto reserve, which would serve as a backup to the U.S. dollar in times of crisis, had an immediate impact on the token's price.

The candidate's suggestion to include Cardano, specifically highlighting its strengths in smart contracts, piqued the interest of viewers.

The latest developments elevated the market cap of Cardano’s 35.21 billion circulating supply to $35.7 billion.

Successful Retest of Altcoins in the Charts

Even before Trump's announcement, Crypto Rover, a trader who has found significant success in trading crypto, already observed signs of recovery in Cardano and other altcoins' prices. On Sunday, the crypto analyst revealed that the altcoin market has undergone a bullish retest.

The crypto personality's chart suggested that ADA could position itself for a rally if it successfully maintained its values above $0.50. Just like that, the US president's mention of Cardano ultimately catalyzed its decisive push, surpassing its key resistances way above its half-a-dollar crucial support.