How High Can Cardano (ADA) Go With Hoskinson Helping Create US Crypto Policy?
2024-11-10

TL:DR;

Perhaps the most notable piece of news for the cryptocurrency industry this weekend came from IOG’s founder, Charles Hoskinson. Asreportedearlier, he outlined his plans for 2025, indicating that he will spend a big portion of his time helping the Trump administration create a comprehensive and possibly more favorable regulatory environment for the digital asset industry.
While the details of the upcoming legislation are scarce, it seemed that the news propelled a massive surge for the entire market, with BTC leading the pack and charting a new all-time high at $80,000.
Somewhat expected, the biggest beneficiary of Hoskinson’s announcement was Cardano’s native token. ADA exploded by 30% at first to just shy of $0.6 but kept climbing in the following hours. It now trades above $0.63 after a 44% daily surge. Moreover, ADA has skyrocketed by almost 90% in the past week.
This leads to the question about the asset’s potential during the apparent bull cycle. We decided to ask the popular AI chatbot – Perplexity – about how high it can go given Hoskinson’s involvement with the future Trump administration.
It answered that the short-term perspective for ADA is at $1 by 2025, and it can continue to increase in the next couple of years to $3.4 by 2027. Should the Cardano ecosystem grow in terms of its DeFi applications as well as user adoption, ADA’s price can go even higher than that, especially if Hoskinson’s efforts eventually lead to clearer regulations, which could “bolster investor confidence.”
“In summary, while the announcement of Charles Hoskinson’s role in shaping U.S. crypto policy has led to immediate positive reactions in ADA’s price, the long-term outlook will depend on the successful implementation of regulatory frameworks and ongoing developments within the cryptocurrency market.” – said the chatbot.