The White House Crypto Summit, led by President Trump, ended without the bold announcements traders hoped for, causing a sharp decline in altcoins. XRP fell 3.5% in the past 24 hours to $2.4, down 20% from its Sunday peak. Cardano’s ADA dropped over 5%, and Solana’s SOL shed 4% to $138. Bitcoin, however, showed resilience, declining only 2.5% to $86,000. The summit promised a framework for stablecoin legislation by August and lighter regulation, but these did not excite the market. Despite the market’s reaction, the U.S. government’s decision to hold onto its bitcoin could set a precedent for other countries, potentially driving global institutional adoption of cryptocurrencies.
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