Cardano’s ADA token has jumped 33% in the last 24 hours, hitting a high of 58 cents for the first time since April, and extending its 7-day gains to 77%. This surge follows an announcement from Cardano founder Charles Hoskinson, who revealed that his development company, Input Output, plans to establish a U.S.-based policy office. The new office aims to engage directly with lawmakers and influence crypto policy under the Trump administration, driving a wave of speculative buying around ADA.
The market’s reaction has been swift, with ADA trading volumes reaching $3.3 billion on Saturday—up significantly from $300 million the previous day. Additionally, open interest on ADA-denominated futures spiked to 858 million ADA, valued at over $500 million at current prices, reflecting strong investor expectations for heightened volatility and further price movement.
Hoskinson discussed his plans on a Friday podcast, stating that he intends to work closely with lawmakers in Washington, D.C., alongside other industry leaders, to foster supportive crypto policies. He emphasized, “We have to do this,” expressing a strong commitment to being actively involved in shaping the U.S. regulatory landscape.
The bullish momentum around ADA aligns with a broader rally across major cryptocurrencies, fueled by recent developments like Donald Trump’s election win and the Federal Reserve’s recent rate cuts. As ADA continues to rally, Hoskinson’s involvement in U.S. crypto policy could solidify Cardano’s influence and support further growth.
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