Cardano (ADA) Is Experiencing an Unprecedented Rise! What is the Reason for the Rise, Will It Continue?

While Bitcoin benefited the most from Trump’s election victory, some altcoins also recorded significant gains.

Although XRP is the first to come to mind among these, Cardano (ADA), which has been showing lackluster performance for a long time, was also among the altcoins that attracted attention with its rise.

While Bitcoin reached the $100,000 mark, ADA, which rose more than 10% in the last 24 hours, rose to $0.90.

Apart from the upward momentum initiated by Trump, the accumulation of whales was also effective in this rise, and it was stated that whales held more than 12 billion dollars of ADA.

Speaking to Coindeks, Tagus Capital analysts said that on-chain activity is high in Cardano, and that whales and institutions are accumulating ADA, indicating that the rise may be permanent.

“The number of large transactions seen on Cardano has increased significantly in recent days, a sign of increasing interest from institutional investors.

Some of this momentum is, as noted earlier, emotion-driven.

Cardano founder Charles Hoskinson hinted at possible collaborations with the Trump administration for crypto-friendly policies.

Cardano continues to trade at $0.86 at the time of writing.

*This is not investment advice.