The intentions of the American president Donald Trump to establish a national strategic reserve of Solana (soil), Cardano (ADA) and XRP sent the assets in bankruptcy up to 60% on Sunday. However, traders express caution until the plans are more concrete.
“The current momentum could see a short -term correction, because investors prices in the announcement of the crypto reserve and determine the legal viability for Trump to create the reserve,” said Hashkey Research, CoindSk in a telegram message. “The president of the federal reserve, Jerome Powell, previously said that the American central bank was not allowed to hold a bitcoin reserve, so there are still technical obstacles to Trump’s plans.”
“The President’s crypto summit can follow up with more details or other possible announcements that can continue to take over the market for recent stockings,” added Guo.
Trump is expected to hold the first crypto summit in the White House on March 7, where he should share other plans on how regulations and cryptography companies will be supported in the country.
Trump announced on Truth Social Sunday late Sunday that XRP, Sol and Ada would be included in a reserve of American strategic cryptography. He then added Bitcoin and Ethereum to the list of assets making up the reserve, and discusses the idea of a strategic cryptography reserve since his presidential campaign in 2024.
This made higher markets almost instantly, with a bitcoin increased from 6.5% to more than $ 93,000 on Monday and the wider market followed by the Coindesk 20 (CD20) widely based.
Elsewhere, the bond of Tokens Chainlink, the University of Uniswap and the movement of the movement are up 8% in the last 24 hours – mainly on their proximity to the world of the Trump Liberty Financial family.
However, some said that there was more work to come before the current rally could be considered supported.
“We expect more volatility until more details can consolidate the creation of the strategy reserve, but the feeling of the cryptographic market has quickly changed, signaling a potential continuation of the bull market,” said Chris Yu, CEO of SignalPlus, in Coindesk in a telegram message.
Yu plans that investors will keep an eye on the entrances to ETF products negotiated in the United States after having recorded record outings last week, where an increase could give indices on the signs of a background and the possible continuation of the Haussier market.
