Cardano Drops 32% Since Being Snubbed For Bitcoin-Only Reserve: What Is Going On?

Cardano ADA/USD has plunged 23% over the past week following the decision to not include it in the strategic crypto reserve.

What Happened: President Trump's announcement on March 2 of Cardano being included in a crypto strategic reserve triggered a 58% price surge.

Just days later, Trump signed an executive order, creating a Bitcoin-only reserve while relegating altcoins—including ADA—to a non-buying stockpile meant only for holding and selling.

As a result, Cardano's gains fully retraced, falling from $1.14 to $0.73.

Its market cap has dropped by $12 billion since March 3, and ADA slipped from the 5th to the 8th largest cryptocurrency, Protos reported.

Despite rumours of a White House invite, Cardano founder Charles Hoskinson was absent from the White House crypto summit.

In a post on March 8, he addressed the situation on X, stating there will be future opportunities for regulatory engagement both domestically and globally.

Since then, he has shifted focus toward broader crypto discussions, criticizing Solana and meme coins while continuing work on Cardano-related initiatives.

Also Read: Trump’s XRP, Cardano Inclusion In Crypto Reserve Proposal Could Be Result Of ‘Businessman’ Instincts, MEXC’s Tracy Jin Says

Why It Matters: Despite the decline, institutional interest remains.

On March 13, Grayscale announced further Cardano accumulation, while on Feb. 24, the SEC had formally acknowledged Grayscale's ADA ETF proposal.

Speculation around an ADA ETF has intensified, with Polymarket data showing approval probabilities for 2025 rising from 64% on March 10 to 70% today.

Read Next:

• Cardano Rallies 43% In Seven Days: What Is Going On With ADA?

Image: Shutterstock