Current Price: $103.41

e: 31.08%

Solana price saw a substantial 31% decline, encountering difficulties despite its inclusion in Trump's strategic reserve.

Solana price saw a substantial 31% decline, encountering difficulties despite its inclusion in Trump's strategic reserve.

The integration of Solana into the U.S. president's plan to counter China's economic dominance was announced last week. The news sparked a rally in SOL, which surged to $228 on Monday. However, the token faced a swift 30%-plus setback as traders booked profits and liquidity began shifting away from Solana.

Moreover, Solana's ecosystem, renowned for its vast tokenized community and fan engagement, faced difficulties. Raydium and Bonk, both included in the 24-hour losers list, are part of the Solana network. The broader market pessimism also affected these tokens.

The crypto market encountered turbulence following Trump's announcement of his plan to counter China's economic reserve with a digital asset-based initiative.

Trump's proposal to fill the U.S. strategic reserve with Bitcoin and other cryptocurrencies was met with mixed reactions. While some economists expressed concerns over the potential implications for macroeconomic stability, crypto enthusiasts welcomed the move, viewing it as a step towards mainstream adoption.

The plan also included a focus on institutional-grade assets, aiming to provide stability and attract long-term investors. However, this left many smaller cryptocurrencies struggling to maintain their previous valuations.

As investors grappled with the immediate consequences of the reserve plan, there was a noticeable flight to safety, with less risky tokens performing better in the 24-hour period.

The coming months will be crucial in observing whether these assets can recover or if the crypto market will witness a prolonged shift towards more regulated and institutional-friendly investments.