Cardano (ADA) experienced a dramatic price drop on March 6, 2025, following former President Donald Trump's announcement regarding the U.S. Crypto Strategic Reserves. This initiative, revealed on Truth Social on March 2, named Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) as part of the government-backed reserves. The move sparked widespread market enthusiasm, causing ADA's price to soar over 70% within 24 hours.
ADA, traded around $0.95 before the announcement, quickly breached the $1 mark, peaking between $1.10 and $1.139 on March 3. However, profit-taking led to a sharp correction, pulling the price down to $0.79 on March 4. Nonetheless, renewed investor interest allowed ADA to rebound to around $0.93 on March 5, demonstrating resilience amid broader crypto market volatility.
Trump's support for digital assets aligns with his broader vision of making the U.S. the Crypto Capital of the World, which stands in stark contrast to the regulatory stance of the previous administration. Market analysts suggest ADA could retest the $1.20 mark if bullish momentum continues, especially ahead of the White House Crypto Summit on March 7.
While speculation triggered early price swings, increased whale accumulation and rising adoption indicate long-term potential for ADA. With Trump's crypto-friendly stance gaining traction, Cardano's future looks increasingly promising, despite the usual volatility expected in the crypto space.
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