The cryptocurrency market has roared back to life, surging nearly 20% in total market capitalization after President Donald Trump announced a U.S. Crypto Strategic Reserve. The revelation, which included Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP, sent shockwaves through the industry, reversing weeks of decline and sparking fresh investor optimism.
Trump’s announcement sent Cardano (ADA), XRP, Solana (SOL), and his own memecoin (TRUMP) soaring in the past 24 hours. Cardano led the rally, skyrocketing over 60.25% and reaching $1.06, followed by XRP’s 24.40% jump and reaching $2.82, and Solana’s 18.27% surge, trading at $174. Trump’s memecoin (TRUMP) also saw a 19.47% increase, capitalizing on renewed enthusiasm surrounding the president’s pro-crypto stance.
Other major cryptocurrencies saw strong gains, including Bitcoin (BTC), up 7.71%, reaching approximately $94,821; Ethereum (ETH), up 9.97%, climbing to around $2,450; and BNB, up 2.55%, marking the weakest increase among the top 10 non-stablecoin assets. The rally erased most of the market’s late February losses as confidence returned to digital asset investors following weeks of uncertainty driven by regulatory concerns and macroeconomic instability.
Strategic Implications of the Crypto Reserve
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
The President wrote on Truthsocial, announcing the establishment of a U.S Crypto Strategic Reserve.
The establishment of the U.S. Crypto Strategic Reserve signifies a pivotal shift in federal policy toward digital assets. By officially recognizing and incorporating these cryptocurrencies into a national reserve, the U.S. government is signaling increased institutional acceptance and potential mainstream adoption. This move could position the United States as a leader in the trillion-dollar digital asset landscape.
Criticism Over Reserve Coin Selection
While the Crypto Strategic Reserve announcement fueled optimism, not everyone in the industry is pleased. Some crypto purists argue that Bitcoin should be the sole asset held in a national reserve, while others question the inclusion of Cardano and Solana over other established networks.
Critics argue that a government-backed reserve should focus on assets with the highest decentralization and security, making the case for Bitcoin and Ethereum rather than more centralized or newer blockchain networks. Renowned crypto critic, Peter Schiff wrote on X:
“I get the rationale for a Bitcoin reserve. I don’t agree with it, but I get it. We have a gold reserve. Bitcoin is digital gold, which is better than analog gold. So let’s create a Bitcoin reserve too. But what’s the rationale for an XRP reserve? Why the hell would we need that?”
Quick Facts:
- President Trump announced the creation of a national reserve, including BTC, ETH, XRP, SOL, and ADA.
- Following the announcement, Bitcoin surged over 10%, Ethereum by 12%, XRP by 30%, Solana by 20%, and Cardano by over 50%.
- The establishment of the reserve could lead to the broader adoption of cryptocurrencies and influence global financial strategies.
