Cardano Surges 53% Against Bitcoin: What’s Driving It?

Two weeks ago, I wrote about the new Grail Bridge linking Bitcoin and Cardano, and wondered who might benefit most.

The market seems to have answered: since the bridge launched, Cardano’s ADA has surged 53% against BTC, rising from 500 to 765 satoshis. It seems the market sees more potential in Cardano than Bitcoin here.

Some might credit ADA’s rise to founder Charles Hoskinson's announcement to open a D.C. office for crypto regulation talks. But that came today, while ADA started climbing on November 6 - the day Trump’s election win sparked discussions about a strategic Bitcoin reserve for the U.S. Amid this, Cardano's new role as a smart contract layer for Bitcoin has increased demand for all things Cardano.

For many cryptos, aligning with Bitcoin could be a smart move now, as post-election focus is heavily on BTC.

If a crypto in your portfolio is distancing from BTC and losing value, you can always swap it for BTC or ADA at the best rates on rabbit.io. 🐰