US President Donald Trump on social media on Sunday, March 2, 2025 announced the addition of select crypto tokens to newly formed US Crypto Strategic Reserves, which shook the digital token markets, with select assets soaring up as much as 75 per cent in the last 24 hours.
Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies including altcoins including XRP, Solana and Cardano, besides the leading two crypto tokens Bitcoin and Ethereum. The names had not previously been announced, said the Reuters.
The crypto market gained strong momentum as Trump announced the Strategic Crypto Reserve, including tokens like XRP, Solana and Cardano, along with Bitcoin and Ethereum. This move triggered a turnaround performance in the market, with major coins rising sharply in the last 24 hours, said Edul Patel, Co-founder and CEO at Mudrex.
"With expectations to drive global adoption of crypto reserves, this move could accelerate the mainstream integration of crypto as we move towards a digital economy. However, investors must keep a close eye on the market for any pullback in the short term," he added.
Following the announcement, the prices of the tokens line Cardano soared as much as 75 per cent from its day's low at $0.6461 to $1.13 according to the data from Coinmarketcap. The total volumes of the token saw an insane jump of 1,450 per cent in the last 24 hours with a total market capitalization of the token nearing the $40 billion mark.
Ripple's navtive token XRP was seen rallying 33 per cent after Trump's decision to hit day's high at $2.97. Its volumes saw a spike of nearly 500 per cent in the last one day and marketcap scaled to $170 billion. Solana surged more than 27 per cent to $178.63, with a total mcap close to $90 billion. The total volumes of this token were up by 350 per cent in the last 24 hours, Coinmarketcap's data said.
With this move, President Trump is setting the U. on a clear path to become the global leader in crypto and positioning the US to shape the future of digital economies, said Sumit Gupta, co-founder at CoinDCX. "It sends a powerful message to the world about how important blockchain and digital assets are moving forward," he said.
Among the top two crypto tokens, Bitcoin jumped about 12 per cent to $95,043.44 on Monday, with a total volume rise of more than 140 per cent. The total marketcap of Bitcoin stood close to $1.9 trillion. Ethereum gained over 17 per cent to $2,548.81 with a total valuation of more than $300 billion, after a 130 per cent rise in its volumes.
Surprisingly, the total valuation of the entire crypto market rose nearly 10 per cent to 3.1 trillion market, with volumes surging about 150 per cent to $190 billion, the data suggested. However, Bitcoin’s dominance currently stood at 59.70 per cent, reporting a decrease of 0.30 per cent over the day.
This is a big positive for the Crypto sector as it will open doors for systematic strategic capital for the asset class, said Pankaj Balani, CEO and Co-founder at Delta Exchange. "Given the strides that the US is making in the sector there should be further inflows into crypto markets and we expect to see the price inching higher from here," he said.
Trump's decision marks an appositive policy move from the Biden administration, which had cracked down on the crypto industry over concerns over fraud and money laundering. Trump's 2024 election campaign was heavily backed by crypto technocrats including Elon Musk and others, who advocated for a favourable crypto environment.
Donald Trump's declaration of a 'Crypto Strategic Reserve' has spread optimism in the crypto space, triggering enormous rallies. The action is interpreted as a strategic move, placing the US at the forefront of the digital asset sector. Investors are speculating about the wider implications of this move amid the waning domination of the Bitcoin, said Avinash Shekhar, Co-Founder & CEO at Pi42.
"The decision breaks at a point when macroeconomic uncertainties regarding crypto are at a peak, which makes this decision a crucial decision for the whole crypto market. With prices surging and sentiment in the market changing, the crypto market is witnessing a radical shift, driven by political power and important financial moves," he said.
On the other hand, details about the crypto reserves remain unclear. Its utility and value have not been announced, despite all the excitement in the crypto market. Also, establishment of such a reserve, without the Congressional approval shall be an easy step for the Trump administration. All eyes are set on more details about the fund, which may double the hopes for crypto fraternity.
Commenting on the latest development, Ashish Singhal, Co-founder at CoinSwitch expects that other countries shall also join in the race to accumulate and send prices through the roof. He also sees regulations to follow-in soon with India becoming a pro-crypto nation, leading to attraction of more talent in the domestic companies, which is currently drained out.
Singhal reiterated that future of Interest and Web3 shall be rewritten soon and specifically mentioned that giant and decentralized entities can be built from any corner of the world, including India.
Balani from Delta Exchange also expect more governments to follow in the footsteps of the US government and it will not be surprising to see similar announcements coming from the Middle East and Europe in the coming months. India should start to look at crypto markets as an opportunity and should embrace this sector in order to participate in this industry as it grows, he said