Cardano’s Bloomberg, which also analyzes the cause of this upswing, highlights remarkable post-election success.
Source: MSN
Co-host Yvonne Man discussed the post-election performance of popular cryptocurrency assets, namely Bitcoin (BTC) and Cardano (ADA), on a recent episode of Bloomberg’s China Show.
After the Election, ADA Beats Bitcoin in Performance
Yvonne emphasized that since early November, Cardano’s gains had surpassed those of Bitcoin. She underlined that since the election, the price of ADA has increased by almost 100%, outpacing that of Bitcoin.
Cardano outperforms Bitcoin post election gains
For background, these gains resulted from the election of Donald Trump, a pro-crypto candidate., on Election Day, ADA was trading at about $0.35. After Trump’s triumph, ADA started out more slowly than Bitcoin but eventually joined the overall market boom.
Cause of the ADA Increase
Interestingly, Yvonne credited Charles Hoskinson, the founder of Cardano, with ADA’s recent price increase after he met with U.S. senators. This might clarify regulations for ADA, which last year were classified as a security by the SEC.
He announced earlier this week that he was meeting with U.S. senators to promote a comprehensive crypto framework.
Hoskinson Advocates for US Regulation That Is Crypto Friendly
Source: X Post
During his most recent interview on Bloomberg, Hoskinson notably reaffirmed that he was still actively engaging with lawmakers. He claims that the main topic of discussion is the creation of a crypto commission to supervise laws pertaining to various crypto industries, such as stablecoins and exchanges.
He disclosed that the executive and legislative approaches to cryptocurrencies are the focus of his involvement. He places a strong emphasis on settling the argument over whether cryptocurrencies belong in the securities or commodities category.
Regarding the executive branch, Hoskinson brought up Trump’s pledge to give cryptocurrency innovation priority. But he added that the president-elect of the United States may have trouble working with Congress.
The U.S. crypto regulatory environment may be impacted by the removal of SEC Chair Gary Gensler. In this sense, a chairperson who supports cryptocurrency might have a significant impact.
Hoskinson wants to establish American leadership in crypto-friendly legislation. He emphasized how crucial it is to make sure that American crypto laws conform to international norms.
Founder of Cardano Meets with Ripple Executives
Hoskinson has met with MPs and other notable crypto stakeholders, including David Schwartz and Brad Garlinghouse, who are executives at Ripple. These conversations raise the possibility of collaboration between Cardano and Ripple.
