Major Altcoins Surge on Trump Crypto Reserve Decision
03 Mar, 2025 ● Vijesti o kovanicama
Some altcoins outperformed the broader cryptocurrency market as Bitcoin rebounded above the $90,000 psychological level, driven by positive developments in U.S. crypto adoption.
Among the 100 largest cryptocurrencies, Cardano token saw the biggest gains, surging over 43% in the 24 hours leading up to 10:15 am UTC on March 3, trading above $0.95, according to TradingView data.
Solana and XRP also saw substantial increases, with XRP climbing over 15% and SOL gaining nearly 12%, both outpacing Bitcoin’s 7.3% intraday rise.
The surge occurred nearly a day after U.S. President Donald Trump announced that his Working Group on Digital Assets had been instructed to include Cardano, Solana, and XRP in the U.S. crypto strategic reserve.
Marcin Kazmierczak, co-founder and COO of RedStone, pointed to this as the primary catalyst behind the price movement:
“The primary reason [behind the rally] is Trump including these three coins in the US reserves. Soon after he followed with a tweet confirming BTC and ETH would obviously be the core of the reserve.”
Kazmierczak also noted that strong community support for ADA and XRP contributed to their performance, as both assets already had dedicated followings capable of attracting more retail investors.
The ongoing crypto market recovery could indicate a turning point, following a period of market capitulation where 24% of the top 200 cryptocurrencies fell to one-year lows, according to a Cointelegraph report on February 20.
Juan Pellicer, senior research analyst at IntoTheBlock, told Cointelegraph that Trump’s announcement may mark a pivotal moment for the three altcoins:
“While the idea of a reserve had been floated before, this marks the first time specific altcoins were highlighted, suggesting that the plan extends beyond Bitcoin and likely emphasizes U.S.-based crypto projects.”
Trump had previously pledged to create a “strategic national Bitcoin stockpile” at the Bitcoin 2024 conference in Nashville, Tennessee. During his keynote speech, he stated:
“It will be the policy of my administration — the United States of America — to keep 100% of all the Bitcoin the government currently holds or acquires into the future. We will keep a hundred percent.”
Sources:
https://cointelegraph.com/news/trump-crypto-reserve-ada-sol-xrp-rally
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