Solana’s price soared 22% after Trump announced plans for a U.S. Crypto Reserve, boosting investor confidence in digital assets.
Solana (SOL) experienced a whopping 22% price growth to $172.38 after a prominent statement by U.S. President Donald Trump. Trump revealed that he would include Solana, XRP, and Cardano in a new Crypto Strategic Reserve designed to support the U.S. crypto market. Trump’s statement was a clear rejection of the Biden administration policies, which he claimed were hindering the pace of growth within the digital asset market. Trump’s statement, “I will see to it the U.S. becomes the Crypto Capital of the World,” charged up crypto investors.
Solana’s market cap is currently at $87.5 billion, a 23.63% gain in 24 hours. Its trading volume was up 134.07% to $8.79 billion, showing massive trading volume. Solana has a circulating supply of 507.59 million SOL, with its fully diluted value well over $103 billion. The other cryptocurrencies were also lifted by the news, as Cardano (ADA) was up 70%, XRP 31%, and Bitcoin (BTC) at 5.5%. Experts forecast that this new policy change may promote institutional adoption, paving the way for long-term cryptocurrency growth.
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