Altcoin Cardano (ADA) led declines among major cryptocurrencies, dropping as much as 9% over the past 24 hours during U.S. pre-market hours on Friday, after President Donald Trump ruled out a diversified U.

Crypto experts told Newsweek the president's recent actions acted as a mark of legitimacy for the digital asset class.

With US stocks unstable, consumer confidence in the economy plunging and whispers of a potential recession growing less muted, the economy under President Donald Trump's second term has been about as stable as a recovering addict's first week back on blow.