The White House encryption summit started high but ended low, altcoins were sold off but Bitcoin showed stronger resilience
On March 9, the much-anticipated White House cryptocurrency summit has concluded, but the outcome disappointed cryptocurrency traders and failed to trigger the market boom that was expected. Compared to Bitcoin, altcoins such as XRP, ADA and SOL experienced larger declines.
The results of the summit were rather bland, only proposing a commitment to establish a stablecoin legislative framework before August and promising more lenient regulatory measures. These actions did not ignite market sentiment as expected.
Trump had previously promised to establish a strategic reserve of cryptocurrencies including Bitcoin, Ethereum, XRP etc., which triggered a large-scale rebound in cryptocurrencies due to traders betting on significant policy changes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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