Cardano Skyrocketing As Hoskinson Eyes Role In U.S. Crypto Policy
The post Cardano Skyrocketing As Hoskinson Eyes Role In U.S. Crypto Policy appeared on BitcoinEthereumNews.com.
Cardano founder Charles Hoskinson, who previously endorsed Donald Trump, recently said he wanted to lead the way in crafting U.S. crypto policy, potentially advising the Trump administration if Republicans win back power in 2025. Hoskinson spoke to his community and investors about what he intends to do when he talks to Washington lawmakers and policy leaders about building a supportive regulatory environment for blockchain and cryptocurrency. Hoskinson’s goal is ambitious, and they are willing to use this political shift to get bipartisan legislation like the FIT 21 Act and the Lummis Bill, furthering the distinction in the crypto space between securities and commodities. – Advertisement – Hoskinson hopes to eliminate the past’s malleable regulatory framework, which has resulted in conflicts between projects such as Cardano, Ripple, and Ethereum and the bigwigs like the SEC by promoting cooperation between crucial industry and political players. He believes that with a clean and supportive regulatory environment, U.S. crypto is in the position to continue creating economic value and jobs without additional intervention or penalties. The market has responded to Hoskinson’s ambitious plan to drive crypto policy with a massive spike in price, as Cardano’s (ADA) token has now jumped over 20 percent in less than a day. – Advertisement – At the most recent update, the price of ADA reached around $0.5856, increasing by 33.38% or approximately 12 hours. Cardano’s market cap rose to $20.5 billion during this rally, and 24-hour trading volume is up 130.58 percent, with many investors optimistic about the future of ADA and the broader crypto market. Cardano Technical Analysis: Bullish Momentum Confirmed by Key Breakout According to technical indicators, the rally seen in Cardano may be part of a larger long-term bullish trend. Cardano (ADA) has decisively broken out of a falling wedge pattern (the pattern on the…
Filed under: News - @ November 11, 2024 2:11 am