Oh, dear! It seems that Cardano (ADA) has taken a tumble, and it’s not because of a playground mishap. In just 24 hours, the price of ADA has dropped from a high of $0.99 to a measly $0.89. That’s an 8% drop from yesterday’s price, and it’s enough to make even the most seasoned crypto investor feel a bit queasy.
But why, you ask? Well, it all started when news broke that Charles Hoskinson, the founder of Cardano, didn’t receive an invitation to the White House Crypto Summit scheduled for March 7. While other bigwigs like Michael Saylor (MicroStrategy) and Brian Armstrong (Coinbase) were invited, Hoskinson was left out in the cold. 🥶
Hoskinson confirmed this during a broadcast, saying, “We did not get an invitation on Monday. We did not get an invitation on Tuesday. We did not get an invitation today on Wednesday. So I’m going to operate under the assumption that I have not been invited to go to this gathering.”
Now, you might be wondering why this would cause such a drop in ADA’s price. After all, ADA was recently included in Donald Trump’s proposed U.S. Crypto Reserve, along with Bitcoin, Ethereum, XRP, and Solana. But Hoskinson said he didn’t even know that ADA was picked for the reserve. “We knew nothing of ADA being selected for the reserve. It was news to me.”
Meanwhile, over $1.09 billion worth of crypto was liquidated on March 4, according to Coinglass. $383,870 in ADA trades were wiped out. Bitcoin was hit the hardest, losing $372.87 million, followed by Ethereum with $201.08 million. 💸
On Monday, ADA saw a price pump of 63% after Trump’s Crypto Reserve news, but now that excitement is fading. The reason why Hoskinson is not invited to the summit remains a mystery.
The lot are excited to be discussed at the summit, especially on topics concerning regulations and the national Bitcoin fund. 📜 Meanwhile, ADA investors are left wondering what’s next for their favorite cryptocurrency. 🤔
Read More
- Pop-Tarts and Krispy Kreme Kick Off 2025 With Collaborative Menu
- The First Trailer for The Weeknd’s ‘Hurry Up Tomorrow’ Film Is Here
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- Nadaaniyan song Galatfehmi OUT: Ibrahim Ali Khan, Khushi Kapoor’s heartbreaking separation in love will leave you emotional
- Alec Baldwin’s TLC Reality Show Got A Release Date And There’s At Least One Reason I’ll Definitely Be Checking This One Out
- JJJJound’s Made in Germany adidas Superstars Drop This Week
- JPMorgan Sees Lower Demand for ETH ETFs Compared to BTC
- Cookie Run Kingdom Town Square Vault password
- Ryan Gosling’s Star Wars Movie Here’s Everything We Know
- ‘The Last of Us’ Gets Season 2 Premiere Date
2025-03-06 23:53