Summary: Solana (SOL) surged 22% to $172.38 after Donald Trump expressed a desire for a U.S. Crypto Strategic Reserve and named Solana, XRP, and Cardano as his top three choices ahead of Bitcoin and Ethereum. The market reacted with massive gains on a handful of assets.
Solana (SOL) rallied strongly, up 22% at $172.38 after former U.S. President Donald Trump announced his proposal for a U.S. Crypto Strategic Reserve. Trump mentioned Solana, XRP, and Cardano in his early announcement as top assets prior to adding Bitcoin and Ethereum later.
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He accused the Biden administration of choking crypto growth and promised to make the U.S. the world’s crypto capital. His pro-crypto stance has unleashed a rally in investor sentiment, with Solana’s market cap hitting $87.5 billion—a 23.63% increase in the last 24 hours. Trading volume also spiked 134.07% to $8.79 billion, indicating high market activity.
The broader crypto market followed suit. Cardano (ADA) jumped 70%, breaking out above $1, and XRP climbed 31% to $2.83. Bitcoin rose a more modest 5.5% to above $88,900.
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Now that Trump is openly embracing crypto, analysts believe this will open the door to institutional adoption and long-term growth for digital assets. As Solana moves to the forefront, the market holds its breath to observe how this shift in policy will shape the future of the space.
