Cardano ADA News: Trump’s Crypto Reserve Announcement Sparks 60% Price Surge

A major announcement by the former US President has significantly impacted the price of Cardano’s native token, ADA. Here’s a closer look at the developments and their implications for the cryptocurrency’s future.

Cardano Soars 60% Following Crypto Reserve Addition

The recent announcement of US President Donald Trump’s Crypto Reserve, which includes Cardano, acted as a key catalyst for a 60% price surge, pushing ADA back above the $1 level for the first time in over a month. The MVRV Long/Short Difference indicator shows a significant uptick, suggesting that the profit margins of long-term holders have surged. This behavior aligns with the recent price surge, as long-term holders are choosing to hold ADA, reinforcing the bullish momentum. The increased LTH profits signify strong investor confidence in the asset.

Cardano (ADA) Rockets Over 60% in Stunning Rally

Cardano price started a surge above the $0.70 and $0.90 levels, rallying over 60% and now consolidating near the $1.050 support zone. The price is trading above $1.00 and the 100-hourly simple moving average. A short-term contracting triangle is forming with resistance at $1.1450 on the hourly chart. The pair could start another increase if it clears the $1.150 resistance zone. After a major decline, Cardano found support near the $0.580 zone and recently started a fresh surge, outperforming Bitcoin and Ethereum following Trump’s announcement of the crypto reserve.

Cardano Founder Addresses Rumors of White House Ties

Charles Hoskinson, founder of Cardano, has addressed speculations regarding his potential ties to the White House. The rumors gained traction due to subtle hints by Hoskinson, including the cancellation of his appearance at ETH Denver, which he attributed to a commitment in Florida. Industry insiders speculated about a high-level engagement, but Hoskinson clarified that any informal meetings should not be misconstrued as conferring special privileges.

Cardano Price Drops After Surge Following Trump’s Crypto Strategic Reserve Endorsement

Cardano (ADA) price trades down by 11.5% on Monday, around $1, after rallying more than 70% the previous day due to US President Donald Trump’s announcement of a US ‘Crypto Strategic Reserve’ on his Truth Social platform. On-chain and technical analysis suggest a potential continuation of the rally as ADA’s open interest and trading volume rise.