Earlier this month, a new U.S. initiative for creating a strategic crypto reserve was announced. The list includes BTC, ETH, XRP, SOL, and ADA. The project's aim is to strengthen America's position as a global crypto hub.
New U.S. Crypto Initiative
The SEC recently released a document clarifying Trump's statement on the crypto reserve, emphasizing the role of XRP for financial transactions, Solana for blockchain applications, and Cardano for academic and governmental purposes.
Cardano's Potential for Government Use
According to the SEC, Cardano is suitable for tasks requiring secure and transparent record-keeping. Universities can use its blockchain for verifying documents, helping to prevent fraud. Cardano's smart contracts automate legal and business processes, and government services can increase data security.
ADA Price Nears Breakout
Trader Ali from ali_charts suggests ADA is near a breakout. A symmetrical triangle pattern signals a potential 15% movement. If ADA breaks out of the upper trendline, the price could rise to $0.85 - $0.86. Alternatively, a drop could take it down to $0.63 - $0.64.
U.S. authorities continue to explore the potential of digital assets like Cardano for integration into governmental services. Meanwhile, traders keep a close watch on ADA’s price movements amid the anticipated breakout.
