- Trump announced on Sunday that Solana, Cardano, and Ripple are to be included in the US strategic crypto reserve.
- The market reacted positively to the announcement as prices soared double digits for all alts.
In the evening hours of Sunday, Mar. 02, President Trump announced plans to create a US strategic crypto reserve which will include Solana, Cardano, and Ripple in addition to Bitcoin and Ethereum.
This decision, which was made to “make the US the crypto capital of the world”, simultaneously fulfils a campaign promise made at the Bitcoin conference in Nashville in November 2024.
According to Trump on this social media platform, Truth Social,
“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,”
This update provided enough bullish sentiment to propel the prices of the listed cryptos by double digitals.
BTC closed the day 9.66% higher, ETH rose 13.64%, SOL rose 24.50%, XRP rose 34.00%, while ADA rose 71.78% as retail investors trooped in en masse.
The euphoria buoyed the entire market as several cryptos logged double-digit gains.
However, the crypto market is down in Monday’s trading session as these cryptocurrencies have returned some gains.
Trump did not provide details on when acquisitions will be made or how.
BTC, ETH, SOL, XRP, and ADA trade at $92,972.70, $2,364.66, $164.27, $2.66, $0.98 respectively as of publishing.
