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Charles Hoskinson Explains Why Trump Is Better Than Biden For Crypto

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9 months ago

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In a recent statement by Charles Hoskinson, the founder of Cardano (ADA), he voiced his concerns over the potential impact of the upcoming November 2024 presidential elections on the crypto industry. Hoskinson’s remarks come in response to a report by Blockworks, a crypto insights and news provider, which suggested that only a “fool” would base their vote solely on crypto-related issues. In addition, Hoskinson spotlighted how the Trump administration could be better than Biden.

Hoskinson Opposes Blockworks’ Remark

Hoskinson vehemently opposed the above-mentioned narrative by Blockworks. Moreover, the Cardano founder emphasized the critical importance of crypto in shaping a new social contract that holds governments and corporations accountable to the people. He stated, “Crypto gives us our voices, financial freedom, and shared humanity back. Any politician who wants to rob us of that is dangerous.”

Expressing his stance as a ‘single-issue voter’, Hoskinson highlighted the significance of a presidential candidate’s stance on crypto. He asserted that being anti-crypto equates to the deepest form of totalitarianism. The Cardano founder also emphasized, “Being anti-crypto is the deepest and worst totalitarianism possible. It robs us of our human agency, freedoms, and economic identity.”

Furthermore, Hoskinson warned against the potential consequences of neglecting the crypto industry’s interests in the electoral process. He cautioned that failing to support candidates who prioritize crypto could lead to the implementation of central bank digital currencies (CBDCs), increased financial surveillance, and limited social mobility.

In addition, he clarified that he isn’t endorsing Biden as some people in the community believe. The Cardano pioneer wrote, “I’m on the left and understand that the 20 percent of America that holds crypto is pretty pissed that Biden caused massive harm to our entire industry arbitrarily and capriciously.”

Also Read: Cardano (ADA) Whale Transaction Jumps 6% As Bulls Eyes $0.5 Retest

Cardano Founder Says Trump Is Better Than Biden

Responding to queries regarding his reluctance to mention the other candidate [Donald Trump], Hoskinson addressed the issue directly. stating, “Trump? No, I’m not afraid to mention him.” He portrayed Trump as an ‘average’ president who largely left the crypto industry unhindered, providing an environment conducive to innovation and growth.

“He was an average president and mostly left our industry alone, giving us the ability to build in peace the future of the world,” Cardano’s Hoskinson remarked. In contrast, Hoskinson criticized President Joe Biden’s approach toward the crypto industry.

He also accused him of actively seeking to undermine the industry’s growth. He lamented Biden’s actions, stating, “Biden has served Well’s notices to everyone and their uncle and is actively trying to destroy the American crypto industry.”

The Cardano pioneer further added, “Our industry isn’t about building arbitrary products or debating taxes and regulations.” This reflects on the recent crackdown initiated by the U.S. Securities and Exchange Commission (SEC) and the Biden administration.

Also Read: Cardano Founder Charles Hoskinson Reveals Why Crypto Matters In Choosing Next US President

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Can Shiba Inu Price Breakout 300%? 128M SHIB Burn Sparks Optimism

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58 minutes ago

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February 22, 2025

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Shiba Inu price remains bullishly eyed by traders and investors despite the broader market volatility as its burning chronicles constantly kill supply. The latest burn metrics indicated that nearly 128 million SHIB was burnt over the past week. In turn, market sentiments about the dog-themed meme coin’s future outlook remain bullish, with technicals further highlighting that a potential 300% breakout looms.

Can Shiba Inu Price Leverage SHIB Burn Impact?

Shiba Inu price has been trading sluggishly against the backdrop of broader crypto market trends for quite a while now. The meme coin was down 2.5% to $0.00001522 as of press time, whilst its weekly and monthly losses totaled 9% and 24%, respectively. It’s noteworthy that this waning action primarily aligns with broader trends, such as macroeconomic heat over the past month and the recent Bybit hack.

Nevertheless, current burn metrics underscored a significant blow to the asset’s circulating supply, sparking investor bullishness. As per Shibburn’s X post on February 22, a whopping 128.22 million coins were burnt in the last week. Per this data, the supply reduction resulted in a 120.3% uptick in the weekly SHIB burn rate.

Market watchers weigh substantial optimism in light of this burn rate surge, aligning with the law of supply of supply and demand. For context, the meme coin’s burn mechanism sends tokens to a null address, thereby permanently removing them from the circulating supply by making retrieval impossible.

How Much SHIB Burnt To Date?

Upon further investigation, CoinGape found that 410.72 trillion Shiba Inu coins were burnt to date, which is bullish news for the leading meme coin‘s price watchers. The circulating supply at the time of reporting was evaluated as 584.30 trillion tokens.

SHIB Burn dataSHIB Burn data
Source: Shibburn site

Meanwhile, the community registered 180.59 million tokens burnt this month (February), with approximately 90 burn transactions recorded. Besides, the previous month saw a whopping 1.16 billion tokens removed from the supply via 124 burn transactions. Altogether, the massive blow to the supply has pushed investors to be optimistic about Shiba Inu price despite its sluggish performance.

Is SHIB Eyeing 300% Breakout?

A recent SHIB price analysis by CoinGape Media further revealed that the meme coin could surge nearly 300% ahead amid strong market technicals. As the token sees heightened active addresses and whale activity, on-chain metrics reflect rising market optimism.

Further, the asset’s MVRV ratio also aligns with bullish historical trends, entering the opportunity zone. Back then, the same scenario resulted in a 55% pump, per the analysis. However, traders and investors exercise some caution as past trends do not always guarantee future performances.

Also, Shiba Inu price recently showcased signs of forming a bullish inverse head-and-shoulders pattern. Given that the crypto market recovers ahead, SHIB could take charge and lead, per the analysis. Key resistance for the token lies near $0.0000326, a sustained hold above which bolsters the path for 300% gains.

SHIB price analysisSHIB price analysis
Source: CoinGape

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC, ETH Drop As $566M Liquidated Amid Bybit Hack

Published

5 hours ago

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February 22, 2025

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Crypto market today (February 22): Bitcoin (BTC), Ethereum (ETH), and other altcoins reflect an alarmingly waning price action as the week comes to a close. Primarily against Bybit’s recent $1.4 billion hack, over $566 million was liquidated across the broader market in the last 24 hours. As a result, BTC price price lost nearly 2% and slipped back to the $96K level on Saturday. Further, ETH and other leading altcoins have also followed the waning trajectory.

Crypto Market Today: BTC, ETH & Altcoins Suffer Amid Bybit’s Hack & Massive Liquidations

Notably, the crypto exchange behemoth Bybit recently suffered an exploitation attack, resulting in the theft of $1.4 billion ETH from the platform. CoinGape reported that the mastermind behind this hack was ‘The Lazarus Group,’ a North Korean cybercriminal organization.

As a response to the hack, the crypto market saw $566.64 liquidated in the last 24 hours, per Coinglass data. The massive liquidations, underscoring panic selling, in turn brought significant heat to cryptocurrency prices. Further, the global cryptocurrency market cap slipped 1.98% from yesterday to reach $3.17 trillion.

BTC Price Backtracks To $96K

In sync with the colossal liquidations, BTC price witnessed a 2% loss in value over the past 24 hours, resting at $96,170. The flagship coin’s intraday bottom and peak were $94,852.96 and $99,497.97, respectively. Coinglass data showed that Bitcoin recorded $199.44 million worth of liquidations in the past 24 hours. Simultaneously, its market dominance slipped marginally by 0.01% to 60.29%.

ETH Price Takes Heat Amid Crypto Market’s New Hack

ETH price tanked nearly 3% in the past 24 hours and is currently trading at $2,674. The coin’s 24-hour low and high were $2,616.92 and $2,842.83, respectively. Ethereum recorded liquidations worth $141.76 million in the past 24 hours. Meanwhile, market watchers remain cautious about the coin’s future movements in light of the massive Bybit hack. Given that the hackers decide to sell the stolen funds ahead, heightened selling pressure could pull the price further down.

XRP Price Cracks 3%

XRP price fell by 3% intraday and is now sitting at $2.57. The coin hit a bottom and peak of $2.51 and $2.71 in the last 24 hours. Notably, the Ripple-backed asset saw liquidations worth $14.95 million over the past day and followed the broader market trend to dip in the red zone.

SOL Price Slips 2%

SOL price saw a 2% decline in the past 24 hours and is now trading at $170. The coin swooped to a low of $167.31 and a high of $180.43 in the last 24 hours. Solana recorded liquidations worth $22.24 million intraday, aligning with the market trend.

Meme Crypto Market Also Tumbles

Dogecoin: DOGE price saw a 4% drop to $0.2417 amid $14.03 million liquidated in the Dogecoin market.

Shiba Inu: SHIB price waned by 2% in the past 24 hours and is currently trading at $0.00001516, mirroring the market trend.

Even Pepe Coin (PEPE) and Official Trump (TRUMP) prices cracked 2%-5%, reaching $0.000009188 and $16.08, respectively. The meme coin market has primarily mirrored the broader market trend as the week comes to a close.

Top Crypto Market Gainers Today

Ethena (ENA)

Price: $0.4544
24-Hour Gains: +11%

ENA price soared as the crypto project reassured users that its stablecoin USDe remains solvent despite the recent Bybit hack.

Bitget Token (BGB)

Price: $5.05
24-Hour Gains: +8%

Bitget’s BGB token soars amid its rival exchange’s hack saga, and the Bitget wallet launching a limited-time BGB on-chain staking program.

Jito (JTO)

Price: $2.84
24-Hour Gains: +5%

JTO price gains alongside S. Korean cryptocurrency exchange Upbit’s announcement to list the token in the KRW market.

Top Crypto Market Losers Today

Mantle (MNT)

Price: $0.883
24-Hour Loss: -15%

Berachain (BERA)

Price: $7.16
24-Hour Loss: -12%

Sonic (S)

Price: $0.8546
24-Hour Loss: -10%

Overall, the current investor sentiment remains highly uncertain surrounding the crypto sector’s future, with prices taking heat amid Bybit’s hack and massive liquidations.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Identifies Key Support For Cardano Price Bullish Momentum

Published

8 hours ago

on

February 22, 2025

By


Crypto analyst Ali Martinez has noted key support levels for Cardano (ADA) price between $0.67 and $0.80. He emphasized their role in sustaining the current bullish trend. According to Martinez’s analysis, these levels have historically acted as both resistance and support for the altcoin. The repeated interaction with this range indicates its significance in determining ADA price direction.

Key Support Levels for Cardano Price Stability

In a post on X, Ali Martinez highlighted that Cardano price has repeatedly tested the $0.67–$0.80 range. This zone has provided stability for ADA, preventing further declines and acting as a foundation for bullish movements.

Historical price movements suggest that this support area has been critical during both uptrends and corrections. The ability of ADA to hold above this range signals strong buying interest.

Recent market data indicates that ADA remains within this support range, maintaining its position despite market fluctuations. If buying pressure persists, Cardano price could establish a stronger footing and attempt an upward breakout.

Meanwhile, Grok 3 AI highlighted Cardano’s strong decentralization as a driving force behind its potential rally to $5-$6 in this bull cycle. If Cardano price can break key resistance levels, it may gain the bullish momentum needed to reach these ambitious price targets.

Technical Indicators Suggest Growing Buying Pressure

Supporting the bullish sentiments, the 1-day Moving Average Convergence Divergence indicates Cardano price is holding above key support levels, providing a foundation for a altcoin rally.

More so, the MACD line is above the signal line, signaling a bullish crossover. If ADA maintains its position above $0.75 and builds on this momentum, it will break the $0.80 resistance and push higher in the short term.

Furthermore, there is the Parabolic Stop and Reverse (SAR) indicator whose dotted lines are placed below Cardano price, which is common in an upward trend. This suggests that ADA price has found a strong support base, further reinforcing the likelihood of an upward move.

Cardano priceCardano price
Source: TradingView

ADA Price To $1?

If Cardano price remains above the key support range of $0.67–$0.80 and manages to break above resistance levels, analysts project a potential rally toward $0.94. A successful test of this price point could pave the way for ADA to revisit the $1 mark.

Conversely, if ADA fails to sustain support above $0.67, selling pressure could increase, driving the price lower. In such a scenario, the next key support level would be around $0.54, where buyers might re-enter the market.

Moreover, another analyst shared the bullish sentiments, emphasizing that ADA price movements suggest a potential breakout. The expert highlighted that if Cardano surpasses the critical resistance at $0.9837, it could pave the way for a rally toward $1.35.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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