Cardano Rises 13% as Speculation Bubbles Around Charles Hoskinson as Trump’s Crypto Policy Advisor

There was speculation about it Charles HoskinsonCo-founder of Ethereum ETH/USD And Cardano ADA/USDpossibly serving as a cryptocurrency policy advisor in the President’s administration Donald Trump.

What happened: This speculation follows recent posts and statements from various crypto community figures and suggests a possible alignment of interests between Hoskinson and the Trump campaign, particularly in light of Trump’s recent ventures in the cryptocurrency space.

The excitement began when Rick McCrackenA notable figure in the Cardano community, expressed hope on X (formerly Twitter) that the Trump-Vance administration might consider Hoskinson for such a role.

This proposal was not made in a vacuum; Hoskinson has advocated this before Robert F. Kennedy Jr.who has since joined Trump’s team, suggests a possible path for dialogue or collaboration.

Hoskinson, who is known for his vocal criticism of the current administration’s crypto policies, has often highlighted the lack of regulatory clarity and what he sees as hostile attitudes towards the crypto industry.

His endorsement of RFK Jr. was seen as a move toward supporting candidates who promise a change in political direction and focus on overcoming national divisions and promoting economic freedom through decentralized technologies.

The crypto community’s interest in Hoskinson’s potential advisory role stems from his deep involvement in blockchain technology and his advocacy for a regulatory environment that encourages innovation rather than stifles it.

His insights could be crucial, especially given Trump’s family’s recent forays into decentralized finance (DeFi) projects, signaling a more crypto-friendly stance from the former president.

However, the path to such an appointment is not without hurdles.

Hoskinson’s criticism of both major political parties over their handling of crypto regulations suggests that any advisory role comes with the expectation of pushing for meaningful policy reforms.

This could mean navigating the complex political landscape when it comes to crypto regulations, while balancing innovation and security.

Also Read: Bitcoin Will Rise to $200,000, Ethereum to $10,000, and Cryptocurrency Market Cap to 4X by the End of 2025, According to Standard Chartered

The discussion comes as Cardano’s native token ADA has regained its position as the ninth-largest cryptocurrency overall and the seventh-largest when excluding stablecoins like these Connection USDT/USD And USDC USDC/USD.

According to a crypto analyst, the token has shown significant momentum, rising 13% in the last 24 hours and 30% in the last 30 days, breaking key technical resistance levels closely watched by market analysts.

Technical analysis of ADA’s current movement shows parallels to previous market cycles, particularly around Bitcoin halving events.

Market data suggests that ADA is currently trading around 201 days from its last trade Bitcoin BTC/USD Halving, comparable to a similar breakout pattern observed in the previous cycle 193 days after the halving.

The asset has shown a notable deviation from its 20-day moving average and currently has a divergence of 14%.

Key resistance levels are identified at $0.47, corresponding to the 50-week moving average, while analysts have outlined potential targets up to $0.60-$0.70 based on current pattern formations.

The timing of this speculation couldn’t be more interesting, especially with Benzinga’s Future of Digital Assets event coming up on November 19th.

This event could serve as a platform for further discussions or announcements about the intersection of cryptocurrency and U.S. politics, potentially shedding light on how figures like Hoskinson might influence or be influenced by political decisions.

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