Cardano (ADA) has soared over 100% in the wake of a post-election rally, emerging as one of the best-performing cryptocurrencies in the current bull market. The rally began with a breakout from a symmetrical triangle on the daily chart, propelling ADA from a $0.326 low to a $0.659 high in less than a week.
Market enthusiasm has grown on speculation about the Trump administration potentially adopting Cardano’s blockchain solutions. A cryptocurrency analyst recently analyzed these developments, citing both chart signals and actions by Cardano founder Charles Hoskinson. The analyst pointed out bullish indicators that suggest the rally could extend further.
Hoskinson has not hesitated to express his bullish sentiment about his project since the election period. On Thursday, the Cardano founder shared a photo of himself standing on the SpaceX premises with the caption, “It was a good day.” Hoskinson’s post boosted the already-heightened speculation about Cardano’s role in the incoming administration.
While details remain sparse, Hoskinson confirmed plans to support the Trump administration through his organization, IOG. He announced the establishment of a new office to liaise with Congress, manage industry relations, and advocate for moderate crypto regulation.
Federal Blockchain Voting Plans Boost ADA Sentiment
Adding to the bullish sentiment, a member of the World Economic Forum shared plans for the Trump administration’s proposed Department of Government Efficiency (DOGE). This initiative aims to develop a federal blockchain-based system for election voting and identity verification. Cardano, Hyperledger, and Hedera are expected to play key roles in building the system.
The announcement aligns with President Trump’s push for a solution to eliminate voter fraud ahead of the 2028 elections, further solidifying Cardano’s potential influence.
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