Is Charles Hoskinson’s Latest Big Clue Behind ADA’s 20% Daily Increase?

The cryptocurrency market went through a bit of a painful correction yesterday, but most assets are back in the green today.

Cardano’s native token has become one of the best performers, rising more than 20% and surpassing $0.75 today for the first time since March of this year. That puts the asset’s weekly gains at nearly 70%, although it has eased slightly to $0.72 so far.

ADAUSD. Source: TradingView Hoskinson to blame?

With most of the market in smaller gains or slight pullbacks, when a certain asset defies the odds and explodes in double digits, it raises questions about the potential reason behind it. In this case, the most obvious one comes from IOG founder Charles Hoskinson.

During the last video he posted on X, he hinted at something big. Hoskinson said he went to California to spend time with Elon Musk’s SpaceX. After praising the team for the work done and their dedication, he said that both sides discussed “a few things” but that they have signed an NDA (non-disclosure agreement) and he can’t talk more about it yet.

However, he has promised to do so in the future when he can. Although he did not provide the slightest detail, his words caught the attention of the community, with many sharing the post and speculating about the potential meaning and impact for Cardano and ADA.

Accordingly, this appears to be the most likely reason behind the daily increase in ADA. Remember what happened last weekend when the asset exploded after Hoskinson said he will work with the Trump administration to release a more comprehensive and US-friendly crypto policy.

The best community?

In a separate post, Hoskinson praised the Cardano community after posting a success story from the creator of TapTool. In it, the IOG founder highlighted Cardano’s growing ecosystem, stating that it has “the best community and the best entrepreneurs.”

When people ask why cardano, that’s why. We have the best community and the best entrepreneurs. It’s a harder road, but it will change the world. I am proud of them all, and with Voltaire, they will make the best government ever assembled by mankind https://t.co/ArXrSJOFoi

— Charles Hoskinson (@IOHK_Charles) November 16, 2024

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!