Is Charles Hoskinson’s Latest Big Hint Behind ADA’s 20% Daily Surge?

The cryptocurrency market went through a somewhat painful correction yesterday, but most assets are back in the green today.

Cardano’s native token has emerged as one of the top performers, surging by more than 20% and exceeding $0.75 earlier today for the first time since March this year. This places the asset’s weekly gains at almost 70%, even though it has retraced slightly to $0.72 as of now.

ADAUSD. Source: TradingView

Hoskinson to Blame?

With most of the market either with minor gains or with slight retraces, when a certain asset defies the odds and explodes by double digits, it raises questions about the potential reason behind it. In this case, the most obvious one comes from IOG’s founder, Charles Hoskinson.

During the latest video he published on X, he hinted about something big. Hoskinson said he went to California to spend some time with Elon Musk’s SpaceX. After praising the team for the work they have done and their dedication, he said that both parties discussed “some things” but have signed an NDA (non-disclosure agreement) and he still cannot talk more about it.

Nevertheless, he promised to do so in the future when he can. Although he failed to provide even the slightest details, his words caught the attention of the community, with many sharing the post and speculating about the potential meaning and impact for Cardano and ADA.

Consequently, this seems to be the most probable reason behind ADA’s daily surge. Recall what happened last weekend when the asset exploded after Hoskinson said he will work with the Trump administration to release a more comprehensive and friendlier crypto policy in the States.

The Best Community?

In a separate post, Hoskinson praised Cardano’s community after reposting a success story by the creator of TapTool. In it, IOG’s founder highlighted Cardano’s growing ecosystem, indicating that it has “the best community and the best entrepreneurs.”

When people ask why cardano, this is why. We have the best community and the best entrepreneurs. It’s a harder road, but it will change the world. I’m proud of them all, and with Voltaire, they will make the finest government ever assembled by humanity https://t.co/ArXrSJOFoi

— Charles Hoskinson (@IOHK_Charles) November 16, 2024