Big Increase In 5 Major Cryptocurrency’s Value After Trump Statement
In a recent statement, US President Donald Trump announced that five new cryptocurrencies are being added to America’s crypto reserve. These include Bitcoin, Ethereum, XRP, Solana, and Cardano. Trump has also officially signed off on this decision.
U.S. President Donald Trump announced on social media that, under his January executive order, the U.S. Crypto Reserve will now take in Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Following the declaration, these cryptocurrencies saw a price increase ranging from 8% to 62%.
Trump stated, “This Crypto Strategic Reserve will help make America the global crypto capital. XRP, SOL, and ADA will be part of it, while BTC and ETH will remain vital components.” This move is being seen as a major triumph for the crypto industry, particularly as the Trump management quickens efforts to support cryptocurrency acceptance, in contrast to the strict regulatory measures imposed by the previous Biden administration.
Following the announcement, the crypto market showed a significant surge. Bitcoin (BTC) rose by 8%, reaching $90,828, while Ethereum (ETH) saw an 8.3% increase, reaching $2,414. The Trump administration is also organizing a “White House Crypto Summit,” which will bring together key figures from the crypto industry. Additionally, the U.S. government is considering managing the Crypto Reserve through the “Exchange Stabilization Fund.”
It is still unclear how this reserve will work, but experts suggest that the government may include cryptocurrencies seized by law enforcement agencies as part of the reserve.
