TL;DR
Cardano (ADA) dropped to $0.82 following Trump’s executive order, with some attributing the dip to a “sell the news” reaction.
Cardano’s founder, Charles Hoskinson, was not invited to Trump’s March 7 White House crypto summit, raising concerns about his role in future regulatory discussions.
ADA Heads South
Cardano’s native token took center stage on March 3, with its price exploding by 60% daily and reaching over $1.10. The substantial resurgence resulted from Donald Trump’s statement that his administration will move forward with establishing a strategic crypto reserve that will include ADA (among other leading cryptocurrencies).
Several hours ago, the US president signed the executive order on the initiative. However, ADA was not included in the order as it was solely focused on bitcoin.
Some industry participants previously warned that Trump’s eventual green light may result in a “sell the news” scenario.
ADA plunged to as low as $0.82 before rebo
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