Trump’s Crypto Reserve Plan Sends Cardano (ADA) Soaring Past $1

Cardano ($ADA) has turned into the biggest gainer since U.S. President Donald Trump talked about a Crypto Reserve that includes XRP

U.S. President Donald Trump has sparked a major surge in the crypto market as he discussed the possibility of a U.S. Crypto Reserve, which would include XRP, Solana (SOL), Cardano (ADA), Bitcoin (BTC), and Ethereum (ETH).

The announcement of a U.S. Crypto Reserve has ignited a rally in crypto prices, with Cardano emerging as the biggest gainer.

Trump's Crypto Reserve Plan Includes XRP, Solana, Cardano, Bitcoin, and Ethereum

On Sunday, March 2, Trump took to X, formerly known as Twitter, to share his thoughts on creating a U.S. crypto reserve. He began by mentioning XRP, Solana, and Cardano as suitable candidates for inclusion in the reserve.

Later in the day, Trump added Bitcoin and Ethereum to the list, suggesting that a crypto reserve could be beneficial for the country's economy.

The president's post quickly gained attention, with investors buzzing about the implications for the crypto market.

"Maybe it's time for the U.S. to create a "Crypto Reserve." We could start with XRP, Solana, and Cardano. It would be interesting to see what happens!" Trump's post read.

"Now that Bitcoin and Ethereum have become major players in the financial world, it seems like the perfect time to add them to the "Crypto Reserve" that I was discussing earlier. It would be a big win for America!" he added in a subsequent post.

Trump's post comes as the crypto market has been showing signs of a recovery in recent weeks. The total crypto market cap has now surged past the $3 trillion mark, showcasing the potential for digital assets in the global financial landscape.

Cardano Price Surges Over 70% as Trump's Post Ignites ADA Pump

Among the cryptocurrencies mentioned by Trump, Cardano has emerged as the biggest gainer.

In the past 24 hours, ADA's price has soared over 70%, pushing past the $1 mark after months of trading below it. At the time of writing, ADA is changing hands at around $1.04, according to Benzinga Pro.

An hour after Trump's post, ADA had already surged over 50%, outpacing all the other coins named by the president.

The total crypto market cap has now increased to $3.04 trillion, showing the rapid recovery in the market.

Cardano's trading volume has also surged, with 24-hour volume reaching $9.76 billion, a 1,578% increase.

LTHs Are Holding Onto ADA Despite Massive Spike

As ADA continues to climb, analysts are noting that long-term holders (LTHs) are showing no signs of cashing out.

Despite the massive gains seen in the past few days, LTHs are still holding onto their ADA, which could indicate that the current price surge might be sustainable in the long term.

This is in contrast to what happened during the last bull market, where LTHs sold their BTC and ETH when prices reached all-time highs.

If LTHs remain engaged and major institutions begin allocating funds to this asset class, it could set the stage for a sustained increase in ADA's price.

For the moment, the Cardano community is enjoying the gains and discussing the possibilities that Trump's backing could bring to ADA in the fast-moving world of digital assets.