Cardano token (ADA) grew by 80% after news of the blockchain founder’s involvement in a new US crypto policy development

Bitcoin continues to break its own records has already reached $82 thousand. Other cryptocurrencies are also growing gradually, and there are already shouts from around the corner about the beginning of a bull market (but you should be very careful, crypto can surprise not only in a positive way).

Meanwhile, the most rapid movement was observed in ADA. This is a native token of the Cardano blockchain. The coin reached a 7-month high after the project’s founder Charles Hoskinson announced his participation in the formation of a new loyal crypto policy in the United States from the beginning of 2025. On Sunday, the ADA token rose to $0.64 and later stabilized at $0.60, which shows an 80% increase over the past 7 days.

In addition, the trading volume of Cardano (ADA) exceeded $5 billion on November 10, but currently stands at $4.54 billion.

In a video message posted by TapTools, a platform that tracks tokens on the Cardano blockchain, Hoskinson said:

JUST IN: @IOHK_Charles to collaborate with the U.S. government on shaping crypto regulations. pic.twitter.com/TAgMGf75mS

— TapTools (@TapTools) November 9, 2024

Hoskinson also recently announced that Cardano will operate as a Layer 2 solution for the Bitcoin network. This will allow Cardano to leverage the security and liquidity of Bitcoin by integrating with its network for faster and more scalable transactions.

The new US administration is considered to be the most positive towards cryptocurrencies. Starting in 2025 Detroit residents will be able to pay taxes and other city fees with cryptocurrency via the secure PayPal platform. In addition, the US national reserve can be replenished with 1 million bitcoins as a hedge against inflation. Moreover, the winner of the election, Donald Trump, actively accepted donations in cryptocurrencies and even launched its own crypto platform (though not very successfully).