Trump proposed a crypto strategic reserve, driving up Cardano, XRP, and Solana tokens.

From Nasdaq: 2025-03-02 18:53:59

The crypto market surged in Sunday trading after President Trump proposed creating a crypto strategic reserve, driving up tokens like Cardano (ADA) by 60.6%, XRP by 31.7%, and Solana by 22.6%. Trump mentioned including these tokens along with Bitcoin and Ethereum in the reserve, causing the larger tokens to jump 9.9% and 12.1%, respectively. However, the legal framework and congressional approval needed for such a reserve are still uncertain, leading to volatility and potential challenges ahead. Investors should proceed with caution amidst the speculative bounce in the market.

President Trump has requested the creation of a Crypto Strategic Reserve that may involve using seized tokens rather than buying new ones. Legal experts are debating the legality of this move, considering the evolving legal framework around digital assets. The concentration of token ownership and the potential political backlash from Congress raise further concerns about the feasibility and future of the reserve. Despite the market’s excitement, the road ahead for a crypto reserve remains uncertain and potentially rocky.



Read more at Nasdaq: Why Bitcoin, XRP, and Cardano Led a Crypto Explosion Today