President Donald Trump Officially Confirms the Inclusion of Several Mainstream Cryptocurrencies

Straight from the proverbial horse's mouth, President Donald Trump has officially confirmed the inclusion of several mainstream cryptocurrencies

President Donald Trump's surprising inclusion of several mainstream cryptocurrencies in the proposed US crypto reserve has naturally sparked interest in how these digital assets reacted to the chief executive's statement on Truth Social.

The chief executive of the country with the world’s most powerful economy announced via Truth Social that Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).

Here’s how the much-anticipated event affected the crypto market, particularly the mentioned digital assets, on the way to Monday.

The world’s largest crypto asset by market cap steeply climbed from a $85K low to a $95K high an hour before and after Trump’s announcement. This came with an increase in BTC’s trading volume by nearly $20 billion, from $27 billion to $46 billion during the period.

As of 6:00 AM UTC, Bitcoin has pulled back to the $92K range, but it continued to accumulate trading volume by approximately 160% in the last 24 hours at $67 billion. The latest developments also elevated the market cap of its 19.83 million supply back to $1.84 trillion, allowing it to surpass silver's overall valuation of $1.76 trillion once more.

Hot on the trails of Bitcoin’s rally was Ethereum. The second largest crypto by market squeezed between a $2.1K low an hour prior to the announcement up to a $2.5K high in the next two hours. Meanwhile, its trading volume peaked from $17 billion to $35 billion within this span.

By Monday morning, ETH had already undergone correction at $2.4K. Nevertheless, its trading volume continued accumulating by 168% in the last 24 hours to $38 billion, while its market cap hovered around $291 billion.

XRP locked the third place in the market cap rankings as it returned to around $160 billion this morning. The token’s trading volume displayed a tremendous rise to roughly 500% at $19 billion.

The XRP tokens’ prices went from a $2.22 low an hour before the US president’s important social media post to nearly $3 after his statement. By morning, values settled by $2.72, but the hype has brought renewed optimism that XRP may be on its way to ultimately overtaking its all-time high of $3.84 seven years ago and potentially flipping Ethereum’s overall value along the way.

SOL displayed the same bullish price action before and in the aftermath of Trump’s social media stunt. The token jumped from a $140 low to a $177 high at the height of the hype.

This morning, Solana has retraced its steps at $163, but its trading volume showed an astonishing increase of 367% in a day to $12 billion. Its progress led to a boost in its market cap to $83 billion.

Trump’s surprise inclusion of Cardano propped the token’s price from a $0.64 low to a $1.13 high an hour before and after the major announcement. With it, ADA gained enough momentum to keep its price above the $1 range on the way to Monday morning.

Cardano’s trading volume rose by a whopping 1,500% in the last 24 hours as its market cap peaked by $40 billion within the event before settling at $35 billion this morning.