After a difficult week full of fear and fall rise, the positive mood seems completely back in the cryptomarkt. And no token benefits more from that than Cardano (ADA). The coin is the absolute star of the show, with a stunning increase of more than 70% in just 24 hours. The cause? A single post from Donald Trump.
Trump hints on strategic crypto-reserve
Whether you agree with him or not, with Donald Trump it is never boring. Today a message provided his own social media platform, Truth Social, for gigantic increases in the cryptomarket. In his post, the American president mentioned various altcoins that may be included in a national crypto reserve. XRP, Solana (SOL) and strikingly enough Cardano (ADA) were specifically mentioned by Trump as contenders.
Shortly after this post an update followed: Trump stated that he is also a big fan of Bitcoin (BTC) and Ethereum (ETH) and that these two coins must form the ‘core’ of the reserve. Bitcoin and Ethereum also gave this news a nice boost, with increases of 10.5% and 13.6% in the last 24 hours respectively.
Ada Koers shoots up
The impact of Trumps report on Cardano was immediately felt. Within just an hour, ADA rose from about $ 0.64 to a peak of $ 1.10, an impressive movement that brings the coin back to valuations that we last saw around Trump’s inauguration period.
With a possible admission to a national strategic reserve, speculation increases over new heights for ADA. At the moment the All-Time High (ATH) is still at $ 3.09, reached in September 2023. Despite the recent explosive growth, Ada still trades 66% under this record, which means that there is still plenty of room for further increases.
The coming days will be crucial to see how the market reacts further and whether more details come out about Trump’s strategic crypto reserve. One thing is certain: Cardano is again in the spotlight.
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Source: https://newsbit.nl/cardano-ada-koers-schiet-70-omhoog-na-verrassende-trump-aankondiging/
