On Sunday, Cardano ( ADA ), the native governing token of the Layer-1 network of the same name, plunged to its highest points since April and said its founder will play a role in shaping crypto policy. Next year US.
On Sunday, Cardano ( ADA ), the native management token of the same-named layer-1 network, rose to its highest level since April and will play a role in shaping crypto policy next year in the US.
ADA rose 33% on the day to $0.64 before showing gains to stand at $0.58 at press time, CoinGecko data shows.
ADA rose 33% to $0.64 on the day before settling at $0.58 at press time, according to CoinGecko data.
It follows Cardano founder Charles Hoskinson's announcement that he wants to position himself as a prominent voice in President-elect Donald Trump's ear when he takes office on January 20.
“A large part of my time is also applied to the political process,” Hoskinson said on Saturday in 2025. Video description Posted by Cardano-based Wallet, NFT and token tracking platform TapTools.
He continued: “I spend very little time in Washington, D.C., working with legislators, and I spend very little time working with members of the Legislature. [Trump] Together with other key leaders to encourage and facilitate management [the] Industry, Crypto Policy.
To be clear, Hoskinson has not been influenced by Trump's inner circle to take a position on crypto. However, the former president has promised to listen to those in the industry to shape future regulations that will affect him.
As a well-known figure in the crypto and blockchain space, Hoskinson is mainly known as the founder of Ethereum and the founder of Cardano, which was developed by the company Input Output Global (IOG), formerly known as IOHK.
He once played a role in Ethereum's early development alongside co-founder Vitalik Buterin, but left due to their views on the project. Hoskinson advocated for a more corporate approach with venture capital funds, as the Ethereum group sought to push for a for-profit, decentralized model.
Cardano tail wind
In a surprise move late last month, Hoskinson said. pole Cardano's strategy to operate as a Bitcoin Layer 2 solution. The shift is expected to allow Cardano to take advantage of Bitcoin's security and liquidity by integrating it with the network to facilitate fast and flexible transactions.
Speaking on Meeting meeting In Bangkok last week, IOG's chief technology officer Romain Pellerin said his company would launch a new “partner chain” dubbed Midnight next year.
The zero-knowledge native blockchain seeks to “disclose greater privacy and choice” to users and businesses with operations held by Cardano Stake Pool Operators.
SPOs are individuals or organizations responsible for managing and managing the share pool on the Cardano blockchain. Stake pools are essential components of Cardano's stakeholder-based proof-of-stake consensus mechanism for securing the network and validating transactions.
Those SPOs will get more $night tokens, with midnight management reserved on Cardano, Pellerin said.
While ADA's jump to April signaled confidence in the token ecosystem shifting into gear, it's amid big improvements for digital assets across the board.
Bitcoin hit a new all-time high above $80,000 on Sunday, with the seminal meme coin Doge hitting a high not seen in more than three years.
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