Cardano ($ADA) Rallies 40% in 7 Days Following Donald Trump's Win in the 2024 U.S. Presidential Election

Cardano ($ADA) has shown a 40% rally in just 7 days. The trade price of the ADA coin surged rapidly following Donald Trump's win in the 2024 U.S. presidential election.

Cardano ($ADA) price surged over 40% in 7 days following Donald Trump’s victory in the 2024 U.S. presidential election.

The ADA coin trade price experienced a rapid surge in the wake of Donald Trump's triumph in the 2024 U.S. presidential election. This development, coupled with the latest upgrade in Cardano's core technology, is widely credited with driving the cryptocurrency's price to new heights.

Cardano, a renowned Proof-of-Stake (PoS) crypto network, is valued for its high scalability and stability in processing transactions. The ADA token serves as the native crypto asset of the Cardano blockchain network.

Over the past seven days, ADA price soared notably, with the lowest trade price recorded at $0.32 and the highest reaching $0.45. This marks a more than 40% increase in a short time frame.

At the time of writing, ADA trades at $0.44, indicating an increase of 24% over the past 7 days.

The price surge of ADA coin can be attributed to several factors. Among them, Donald Trump's victory in the U.S. presidential election is seen as a key driver.

Furthermore, the latest upgrade in Cardano's core technology also played a role in boosting ADA price.

Cardano's latest developments include the release of Node version 10.1.2, which follows version 10.1.1 and brings additional refinements. The DB Sync team prepared a pre-release for version 13.6.0.0, designed to be compatible with Node version 10.1.0 and is being tested before the mainnet launch.

Moreover, the Ledger team enhanced internal code quality and introduced a new query that allows users to determine the default vote for a specific stake pool operator. The performance and tracing team focused on further advancements in benchmarking and tracing.

Ledger Improvements: Code quality was enhanced, and a new query feature enables users to find default votes for specific stake pool operators.

Performance and Tracing: Continued benchmarking and tracing improvements were implemented.

Potential legal clarity for the ADA coin in U.S. jurisdiction

It is worth noting that the United States Securities and Exchange Commission (SEC) filed multiple lawsuits against several crypto companies, with ADA frequently mentioned as an unregistered security token in these cases.

In light of this, there is a possibility that the U.S. government may introduce crypto-specific measures to ensure that flagship crypto assets, which operate based on impartial principles, can be classified as commodity assets.

Also, read: Bitcoin Pumps to New All-Time High of $77.5K; Binance Co-Founder CZ Suggests Investors Control Greed

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