America will create a crypto reserve, Trump told which cryptocurrencies will be in the treasury
US President Donald Trump has announced the creation of a US crypto reserve. This reserve will include Solana (SOL), XRP (XRP) and Cardano (ADA). Trump gave this information through a post on TruthSocial. The US Crypto Reserve is part of Trump’s broader plan to make the US a global leader in the crypto sector. Trump said, “I will ensure that America becomes the crypto capital of the world.” After this announcement, the cryptocurrency market gained momentum.
According to President Trump, the establishment of this reserve will increase the stability of the US dollar. XRP is known for fast and low-cost international transactions, while SOL and ADA are popular for smart contracts and decentralized applications. These cryptocurrencies have been selected on the basis of their technical capability and wide acceptance. Trump said in his post, “The US Crypto Reserve will lift this important industry after years of corrupt attacks by the Biden administration.
Attack on Biden again
President Donald Trump once again attacked former President Joe Biden over crypto. He said, “The US crypto reserve will lift this important industry back up after years of corrupt attacks by the Biden administration,” Trump also stressed that he is committed to making the US a global hub for digital assets.
Crypto market boom
Donald Trump’s announcement to create a crypto reserve led to a boom in the crypto market. Bitcoin jumped more than 6% after falling dramatically from its all-time high in February and reclaimed the $90,000 level in New York on Sunday afternoon. Ether, the second-largest digital token, rose nearly 10% to around $2,400.
Ripple rose nearly 30% to $2.80, while Solana rose nearly 20% to $170. Cardano, a relatively smaller cryptocurrency by market value, initially jumped more than 60% but later pared gains to settle around $1.02.
