In a post on Truth Social, Trump revealed that his executive order from January regarding digital assets would establish a reserve of currencies, including bitcoin, ether, XRP, solana, and cardano. These specific currencies had not been previously disclosed.
He indicated on Sunday that bitcoin and ether would be the foundation of this reserve.
Following his announcement, the world’s largest cryptocurrency surged over 20 percent from its November lows observed on Friday, shifting sentiment for a token that has been in decline since mid-January due to disappointment over Trump’s failure to fulfill commitments to ease regulations.
It was last observed trading around US$94,154, an increase from Friday’s US$78,273.
Over the weekend, ether increased by 20 percent, trading at US$2,482. XRP saw a 38 percent rise, solana climbed 20 percent, and cardano surged by 78 percent.
