Ada, XRP and Solana de Cardano slipped Friday after a White House official supported the recent announcement of President Trump according to which he would sign an executive decree which asks the presidential working group to go ahead with the creation of a strategic crypto reserve composed of Ada, XRP, Sol, Bitcoin and Ether.
“I think that the president has just given five examples of cryptocurrencies in his article. These five must be the most important by market capitalization,” said the senior White House in a call with journalists before the Summit of Cryptography of the White House on Friday. “I think people read a little too much. The main thing is, I think what we have announced here is consistent with what the president has always said about space.”
According to Coingecko data, the official’s assertion is not strictly true. Take out the two largest stablecoins – USDT from Tether and USDC de Circle – the five largest cryptocurrencies by market capitalization are Bitcoin, Ether, XRP, BNB of Binance and Sol. Dogecoin is the sixth cryptocurrency by market capitalization, with ADA just behind.
In an article on social networks of March 2, Trump said that a “American cryptography reserve would increase this critical industry after years of corrupt attacks from the Biden administration”. The announcement that he would include Sol, ADA and XRP was criticized by many of the industry, which expressed his concerns that the inclusion of altcoins in a strategic reserve could be a vehicle for corruption and self-furer.
On March 6, Trump signed an order ordering his administration to create a Bitcoin strategic reserve, capitalized with the Bitcoin holdings seized from the United States government. The crypto stock containing other cryptocurrencies will be a separate entity.
ADA plunged more than 5% to $ 0.82 in the minutes that followed its comments. XRP slipped from $ 2.41 to 3.5%, while Sol fell by 2%. The three tokens are firmly decreasing in the last 24 hours alongside a low cryptography market.
The senior executives from the whole cryptography industry gathered in Washington, DC for the first summit of white house cryptography on Friday afternoon. Cryptographic companies, including Ripple, Gemini, Robinhood Crypto, Crypto.com, ChainLink and Anchorage, will be present.
