- President Trump announced the creation of US Crypto Reserve
- The reserve will include Cardano, XRP, and Solana, along with the top two cryptocurrencies
- The announcement led to ADA gaining over 70% in the 24-hour chart
The cryptocurrency market has been painted in green after the announcement made by US President Donald Trump with Cardano, XRP, and Solana topping the charts. The coins have seen double-digit gains in under an hour, with Cardano (ADA) recording the highest jump.
Source: CoinMarketCap
According to CoinMarketCap, at press time, ADA was trading at $1.10 with a market cap of over $38 billion. The coin recorded a massive jump of over 40% in the past hour, while the 24-chart showed an uptrend of over 74%. The coin has also noted a sharp upward trajectory on Trading View, since the announcement made by President Trump.
Source: TradingView
A similar upward trend was also noted for XRP and Solana (SOL), with the coins gaining over 15% and 10% respectively in the past hour. At press time, XRP was trading at $2.93 with its 1-day chart registering gains of over 35%. Meanwhile, SOL was trading at $173.52 and had seen its value jump by over 20% in the 24-hour chart.
President Trump’s announcement on Cardano and other cryptos
Earlier today, President Trump announced the creation of the U.S Crypto Reserve in a social media post. The announcement read,
“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”
He further added
“I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
Furthermore, in an added post, President Trump also clarified that the main part of the crypto reserve would be the top two cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH). He stated, “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”
Notably, the additional post seems to have given the king coin a boost, which has recently seen a downward trend. According to CoinMarketCap, at press time, Bitcoin had regained its position above the $90k mark, trading at $91,210. The coin registered a gain of over 4% in the past hour and a gain of over 7% in the 24-hour chart.
Meanwhile, Ethereum seemed to be positioned much better than the top occupier. ETH was trading at $2438 at press time with an uptrend of 9.50% in the past hour. The 24-hour chart showed a gain of over 10%, while the 7-day chart was still painted red with a downtrend of over 13%.
