On November 10, Cardano prices rose by more than 20%, recovering to the April high of $0.597. The rise in cryptocurrencies was primarily due to a general rally in the cryptocurrency market following the re-election of pro-cryptocurrency U.S. presidential candidate Donald Trump on November 6. However, its intraday gains were mainly due to rumors that Cardano founder Charles Hoskinson could become a member of the Trump administration in 2025.