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Cryptocurrency prices jumped on Sunday after President Donald Trump said a potential US strategic reserve of digital assets will include lesser-traded tokens Solana, XRP and Cardano.
Trump made the disclosure on his Truth Social media account, adding: “I will make sure the US is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
His comments gave prices across the industry a lift after weeks of selling pressure, as cryptocurrencies were hit in a market shake-out of riskier assets.
Traders have also cited their frustration that the Trump administration has not moved faster to enact some of the reforms he promised on the campaign trail.
Solana, the token that represents the blockchain that hosts most of the memecoins — including Trump’s own coin — climbed 19 per cent to $169.71.
Ada, which represents the Cardano blockchain, soared 50 per cent to just over $1 per token. XRP, the coin affiliated to payments group Ripple, added 27.7 per cent to $2.70.
Bitcoin rose 5.5 per cent to more than $88,900 per coin.
In the first days after his inauguration, Trump signed an executive order supporting the growth and use of digital assets and blockchain technology and vowed to create a national stockpile of bitcoin — moves that investors celebrated.
This is a developing story
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