Cardano's ADA token surges 20%, fueled by Elon Musk rumors and CEO Hoskinson's praise of the coin...
Cardano’s native cryptocurrency, ADA, surged more than 20% to above $0.75 this week, hitting its highest level since March. The surge came amid a somewhat painful correction in the crypto market, with most assets now back in the green. ADA’s surge has raised questions about the possible reasons behind it, with many speculating that it could be due to IOG founder Charles Hoskinson hinting at a collaboration with Elon Musk’s SpaceX.
Hoskinson recently praised the SpaceX team, stating that the two parties had discussed “some things” but were bound by a non-disclosure agreement (NDA). He promised to share more details in the future, but has yet to provide any specifics. Announcing this collaboration could have boosted ADA’s value, as we saw last weekend when the asset’s value surged after Hoskinson announced a collaboration with the Trump administration to pass a more inclusive and friendly crypto policy in the United States.
In a separate post, Hoskinson praised the Cardano community after reposting the TapTool creator’s success story. He highlighted Cardano’s growing ecosystem, claiming it has “the best community and the best entrepreneurs.”
Overall, Cardano has made great strides in the cryptocurrency world, with its native token ADA seeing a surge in value and its community receiving praise from the founder.
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<p>The post Cardano’s ADA token surges 20%, fueled by Elon Musk rumors and CEO Hoskinson’s praise for its community was first published on CoinBuzzFeed.</p>
