The crypto market saw significant growth after Donald Trump announced the establishment of a US Strategic Crypto Reserve, including ADA, XRP, and SOL.
Market Rebound Post Announcement
The cryptocurrency market surged from $2.84 trillion to $3.1 trillion in 24 hours following confirmation of XRP, ADA, and SOL's inclusion in the newly established US Strategic Crypto Reserve. This policy shift led to a sharp rally, while Bitcoin and Ethereum saw moderate gains due to short covering.
Trump's Pro-Crypto Initiative
Since the start of his 2024 campaign, Donald Trump has supported cryptocurrencies, promising to counter anti-crypto policies and establish a US Crypto Reserve. The first batch includes XRP, SOL, and ADA, while ETH was unexpectedly excluded.
ETF Optimism
In addition to the crypto reserve, Trump's administration is set to influence the approval of altcoin ETFs for LTC, XRP, and SOL, sparking optimism among traders. Growing institutional interest in ETFs underscores confidence in the future of digital assets.
The announcement of the US Crypto Reserve spurred significant market movements, and further developments with potential ETF launches could heighten investor optimism.
