Orhan 
Cardano (ADA), which has seen significant price increases in the crypto market recently, has become a focal point for investors. One of the most frequently asked questions among cryptocurrency enthusiasts is, “Why is Cardano (ADA) rising?”
As is known, the U.S. elections that took place last week, with crypto-friendly Donald Trump winning, sparked significant movement in the markets. This led to substantial increases in the prices of Bitcoin and many altcoins.
While the rise was limited in some altcoins due to the BTC Dominance effect, Cardano’s (ADA) price saw a substantial increase compared to other altcoins. Over the past few days, Cardano has experienced a 78% price increase, attracting the full attention of investors. ADA’s trading volume also surged by over 1000%, rising from $300 million to $3.3 billion.
Why Is Cardano (ADA) Rising?
Undoubtedly, the main reason for the current surge in the cryptocurrency market is the results of the U.S. elections. After Donald Trump’s victory, Charles Hoskinson, the founder of Cardano, recently announced his intent to collaborate with lawmakers in Washington D.C. to drive the development of the crypto industry.
Following this statement, investor attention turned to Cardano, resulting in increased demand. In the futures market, there has been significant demand for ADA, with open positions reaching 858 million ADA.
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