US President Donald Trump has announced on his social network that he will proceed with the establishment of the National Cryptocurrency Reserve. Given this, the prices of these assets have generally responded strongly upwardly to what the President has specifically revealed to include.
Through his social network of social truths, Trump yesterday told his digital assets presidential team to move forward in the National Cryptocurrency Reserve, including XRP, Solana (SUN) and Cardano (ADA). These three are active, created by US companies.
“We confirm that the United States is the world capital of cryptocurrency,” the president said of it.
Also, given the questions generated later, he revealed in another publication that this also integrates Bitcoin (BTC) and ethher (ETH). In fact, he said these two assets would “become the centre of the reserve.”
Given these comments, we can observe in the following capture: Both BTC and ETH showed more than 10%. But then they supported slightly.
At the time of this wording, they cite USD 93,000 and USD 2,300 respectively, indicating a 24-hour increase of 9% and 7% respectively. This brought the BTC to 14% of the US$109,300 record on Trump’s presidential assumption a month ago, leaving ETH at 50% of the maximum US$4,900 obtained three years ago.
Other cryptographic works mentioned by the President recognize greater benefitssomething consistent considering the maximum volatility to reduce capitalization.
XRP is the third cryptoactive with the largest market capitalization after BTC and ETH, and currently cites USD 2,67. This means 19% value over the last 24 hours. This led to 30% of its historical maximum of USD 3.84 reaching 30% before seven years ago.
Meanwhile, Sol Records has grown 15% over the past 24 hours, currently contributing to US$163. In this way, this asset is sixth in market capitalization, 44% of the historic maximum of 294 US$, marked a month ago.
If prices rise in the last 24 hours, over 50%, The ADA is positioned as the cryptographic effect Trump mentioned in his most profitable announcement. The climb now trades at US$0.98, with 68% of its US$3.1 record reaching more than three years ago.
Why did Ada get more cryptocurrencies than other cryptocurrencies mentioned Trump?
Unlike the ADA, it was rumored that Trump could integrate XRP and Sol into the National Reserve. This can explain that its price is rising above the other prices, before surprises of its inclusion, as shown below.
As reported by Cryptonoticias, such rumors emerged from an article in the NY Post newspaper released the week before President Trump’s assumption. He warned that his government had studied the creation of national cryptocurrency reserves that prioritize US-created items such as SOL and XRP.
Rumors then grew when Trump ordered an assessment of the formation of a national reserve for digital assets. The study was responsible for the team that created the teams that needed to perform other tasks on this type of assets in search of exploiting the potential to strengthen the US economy.
Anyway, that should be considered, As long as Trump is now ordering his team to move forward with BTC, ETH, XRP, SUN and ADA, this doesn’t mean that this scale will be specified.. This is because it relies on bureaucratic and legislative issues.
Cryptocurrency continues to be highly volatility
“The United States is a key financial center because there are guidelines that govern the rule of law and how things march,” says Samson Mo, an ecosystem businessman. And this isn’t exempt from creating strategic Bitcoin or cryptocurrency reserves, he points out.
The Trump team has deepened that they must prepare reports/suggestions with criteria for selecting cryptocurrency in national reserves, and Congress must approve it to make it a reality.
In this sense, In the case of Mow, the Altcoins mentioned by Trump (cryptocurrency without counting BTC) do not pass approval. In his opinion, the approval will be reduced to Bitcoin and several currencies that meet strict requirements such as the Work Test System (POW) to ensure the integrity of the fundamental and immutable monetary policy.
With this panorama in mind, it is expected that both Bitcoin prices and cryptocurrency will be generally affected by how this initiative progresses.
in principle, With the rise, the cryptocurrency market erased a fall that surpassed last week. Such a scenario was led by hacks to trade Bibit, including the biggest robbery of cryptocurrency in history and Trump’s announcement of import duties in the European Union that has fueled the fear of inflation.
