US President Donald Trump on social media on Sunday, March 2, 2025 announced the addition of select crypto tokens to newly formed US Crypto Strategic Reserves

US President Donald Trump on social media on Sunday, March 2, 2025 announced the addition of select crypto tokens to newly formed US Crypto Strategic Reserves, which shook the digital token markets

US President Donald Trump's announcement on social media on Sunday, March 2, 2025, about the inclusion of select crypto tokens in the newly formed US Crypto Strategic Reserves has shaken the digital token markets. In the last 24 hours, some assets have soared as much as 75 percent.

According to Trump's post on Truth Social, his January executive order on digital assets would create a stockpile of currencies including altcoins such as XRP, Solana and Cardano, besides the leading two crypto tokens Bitcoin and Ethereum. The names had not previously been announced, said the Reuters.

The crypto market has seen strong momentum as Trump announced the Strategic Crypto Reserve, including tokens like XRP, Solana and Cardano, along with Bitcoin and Ethereum.

This move has triggered a turnaround performance in the market, with major coins rising sharply in the last 24 hours, said Edul Patel, Co-founder and CEO at Mudrex.

"With expectations to drive global adoption of crypto reserves, this move could accelerate the mainstream integration of crypto as we move towards a digital economy. However, investors must keep a close eye on the market for any pullback in the short term," he added.

Following the announcement, the prices of the tokens line Cardano soared as much as 75 percent from its day's low at $0.6461 to $1.13 according to the data from Coinmarketcap. The total volumes of the token saw an insane jump of 1,450 percent in the last 24 hours with a total market capitalization of the token nearing the $40 billion mark.

Ripple's navtive token XRP was seen rallying 33 percent after Trump's decision to hit day's high at $2.97. Its volumes saw a spike of nearly 500 percent in the last one day and marketcap scaled to $170 billion.

Solana surged more than 27 percent to $178.63, with a total mcap close to $90 billion. The total volumes of this token were up by 350 percent in the last 24 hours, Coinmarketcap's data said.

Among the top two crypto tokens, Bitcoin jumped about 12 percent to $95,043.44 on Monday, with a total volume rise of more than 140 percent. The total marketcap of Bitcoin stood close to $1.9 trillion.

Ethereum gained over 17 percent to $2,548.81 with a total valuation of more than $300 billion, after a 130 percent rise in its volumes.

Surprisingly, the total valuation of the entire crypto market rose nearly 10 percent to 3.1 trillion market, with volumes surging about 150 percent to $190 billion, the data suggested. However, Bitcoin’s dominance currently stood at 59.70 percent, reporting a decrease of 0.30 percent over the day.

Trump's decision marks an appositive policy move from the Biden administration, which had cracked down on the crypto industry over concerns over fraud and money laundering. Trump's 2024 election campaign was heavily backed by crypto technocrats including Elon Musk and others, who advocated for a favourable crypto environment.

"Donald Trump's announcement of a 'Crypto Strategic Reserve' has spread optimism in the crypto space, triggering enormous rallies. This action is interpreted as a strategic move, placing the US at the forefront of the digital asset sector. Investors are speculating about the wider implications of this move amid the waning domination of the Bitcoin," said Avinash Shekhar, Co-Founder & CEO at Pi42.

"The decision breaks at a point when macroeconomic uncertainties regarding crypto are at a peak, which makes this decision a crucial decision for the whole crypto market. With prices surging and sentiment in the market changing, the crypto market is witnessing a radical shift, driven by political power and important financial moves," he said.

On the other hand, details about the crypto reserves remain unclear. Its utility and value have not been announced, despite all the excitement in the crypto market. Also, establishment of such a reserve, without the Congressional approval shall be an easy step for the Trump administration. All eyes are set on more details about the fund, which may double the hopes for crypto fraternity.

Commenting on the latest development, Ashish Singhal, Co-founder at CoinSwitch expects that other countries shall also join in the race to accumulate and send prices through the roof. He also sees regulations to follow-in soon with India becoming a pro-crypto nation, leading to attraction of more talent in the domestic companies, which is currently drained out.

Singhal reiterated that future of Interest and Web3 shall be rewritten soon and specifically mentioned that giant and decentralized entities can be built from any corner of the world, including India.