XRP, ADA, SOL Fall Harder Than BTC as White House Crypto Summit Fails to Wow Traders
Expectations of bigger plans for the largest cryptocurrencies fell short on Friday as the first-ever presidential crypto summit ended with promises of stablecoin legislation and lower regulatory resistance.

What to know:
- The White House Crypto Summit, led by President Trump, ended without the expected bold announcements about a U.S. strategic crypto reserve, leading to a decline in altcoins like XRP, Cardano’s ADA, and Solana’s SOL.
- The summit resulted in a framework for stablecoin legislation by August and a promise of lighter regulation, but these outcomes did not stimulate the market as anticipated.
- Despite the market's reaction, the U.S. government's decision to hold onto its bitcoin could set a precedent for other countries and potentially drive global institutional adoption of cryptocurrencies.
The much-anticipated White House Crypto Summit on Friday ended with a whimper rather than a bang for cryptocurrency traders, sending altcoins like XRP, Cardano’s ADA, and Solana’s SOL into steeper declines than market leader bitcoin (BTC).
Investors had pinned high hopes on President Donald Trump’s pro-crypto stance, expecting bold announcements about a U.S. strategic crypto reserve that would prominently feature major altcoins.
Instead, the summit delivered a more subdued outcome: a framework for stablecoin legislation before August and assurances of a lighter regulatory touch—moves that failed to ignite the market as anticipated.
Trump said it was "foolish" that the federal government had already sold so much of its seized bitcoin, adding that the country will a colloquial rule of “never sell your bitcoin.
XRP dropped 3.5% in the past 24 hours to nearly $2.4, down from a high of $2.98 earlier in the week — marking a decline of nearly 20% from its Sunday peak following Trump’s initial reserve announcement. Cardano’s ADA fell over 5% while Solana’s SOL shed 4% to hover around $138 as of Asian afternoon hours Saturday.
Bitcoin, by contrast, held up better, trading at $86,000—down 2.5% in the past 24 hours but showing relative resilience compared to the altcoin bloodbath.
The summit, chaired by Trump’s AI & Crypto Czar David Sacks, had been billed as a landmark event following the president’s earlier pledge to establish a U.S. crypto strategic reserve including BTC, ETH, XRP, SOL, and ADA.
Trump’s Sunday Truth Social posts had sparked a massive rally, with majors surging as much as 60% as traders bet on a transformative policy shift. However, Sacks’ clarification on Friday that Trump’s mention of five cryptocurrencies was merely illustrative — not a firm commitment — doused hopes of longer rallies.
Meanwhile, the embrace of bitcoin could eventually see other countries act in lockstep, potentially acting as bullish catalysts in the coming months.
“The U.S.’ prioritisation of Bitcoin as a reserve asset not only legitimises its status as “digital gold’ but also sets a precedent that could accelerate regulatory frameworks and drive institutional adoption worldwide,” Vincent Chok, CEO of First Digital, told CoinDesk in an email. “This move will inevitably prompt a diverse range of responses from global regulators.’
“For those aligned with U.S. policy, it could accelerate the establishment of their own national strategic stockpiles. Such federal confidence could inspire institutions to move on-chain, increasing participation, injecting liquidity into the decentralised finance market, and broadening interest beyond Bitcoin to other digital assets like stablecoins,” Chok added.
More For You
Exchange Review - March 2025

CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
More For You
This article is created to test tags being added to image overlays

Dek: This article is created to test tags being added to image overlays
What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.