The crypto market surged after Trump’s reserve announcement, but analysts warned the rally may be temporary as regulatory hurdles remain.
Cryptocurrency markets surged following US President Donald Trump’s announcement of a potential strategic crypto reserve, but analysts cautioned that the rally may be short-lived.
On March 2, Trump said his Working Group on Digital Assets had been directed to include three altcoins — XRP (XRP), Solana (SOL) and Cardano’s ADA (ADA) — in the US crypto reserve, Cointelegraph reported. The reserve will “obviously” also include Bitcoin (BTC) and Ether (ETH), Trump added in another post on Truth Social.
The announcement triggered a marketwide rebound, with the global crypto market cap rising nearly 7% to $3.04 trillion, while Bitcoin breached the $95,000 psychological mark after a 7.7% intraday rally.
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