XRP, ADA, SOL Fall Deeper Than Bitcoin as White House Crypto Summit Fails to Wow Traders

BTC $ 86,157.65 - 2.47 % ETH $ 2,135.88 - 2.59 % USDT $ 1.0000 - 0.02 % XRP $ 2.3714 - 5.78 % BNB $ 596.42 - 0.52 % SOL $ 138.63 - 4.02 % USDC $ 1.0001 - 0.00 % ADA $ 0.8251 - 6.02 % DOGE $ 0.1966 - 2.33 % TRX $ 0.2489 + 3.50 % WBTC $ 86,117.60 - 2.41 % LINK $ 15.57 - 9.52 % HBAR $ 0.2321 - 6.19 % LEO $ 9.8617 - 0.83 % XLM $ 0.2787 - 4.87 % SUI $ 2.5907 - 7.51 % AVAX $ 19.78 - 4.61 % LTC $ 105.23 + 2.50 % SHIB $ 0.0₄1290 - 4.34 % BCH $ 382.55 - 5.54 % Ad Sign Up News Back to menu News Prices Back to menu Prices Data Back to menu Data Trade Data Derivatives Order Book Data On-Chain Data API Research & Insights Data Catalogue AI & Machine Learning Indices Back to menu Indices Multi-Asset Indices Reference Rates Strategies and Services API Insights & Announcements Documentation & Governance Consensus Back to menu Consensus Sponsored Back to menu Sponsored Videos Back to menu Videos CoinDesk Daily Shorts Editor's Picks Podcasts Back to menu Podcasts CoinDesk Podcast Network Markets Daily Gen C Unchained with Laura Shin The Mining Pod Newsletters Back to menu Newsletters The Node Crypto Daybook Americas State of Crypto Crypto Long & Short Crypto for Advisors Research Back to menu Research Webinars & Events Back to menu Webinars & Events Consensus 2025 Policy & Regulation Conference Sponsored Back to menu Sponsored Thought Leadership Press Releases CoinW MEXC Phemex Advertise News Sections Back to menu News Sections Markets Finance Tech Policy Focus English Select Language English en Español es Filipino fil Français fr Italiano it Português pt-br Русский ru Українська uk News Prices Data Indices Consensus Sponsored Sign In Sign Up Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email XRP, ADA, SOL Fall Deeper Than Bitcoin 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. By Shaurya Malwa Mar 8, 2025, 7:56 a.m. UTC 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). Story continues Don't miss another story. Subscribe to the Crypto Long & Short Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . 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 US’ 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 US 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. Shaurya Malwa Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN. X icon About About Us Masthead Careers CoinDesk News Crypto API Documentation Contact Contact Us Accessibility Advertise Sitemap System Status DISCLOSURE & POLICES CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies . 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