Solana Surges as Trump Unveils US Strategic Crypto Reserve

Cryptocurrency prices soared on Sunday after US President Donald Trump revealed that the country’s newly created strategic reserve of digital assets would include not only bitcoin and ethereum, but also Solana, XRP, and Cardano.

The move is part of a broader plan by the Trump administration to reposition the United States as the global leader in blockchain technology and crypto innovation. “We will MAKE AMERICA THE CRYPTO CAPITAL OF THE WORLD,” Trump declared on his Truth Social account, blaming what he called “corrupt attacks by the Biden Administration” for holding back the sector.

In one of his first executive orders after returning to office, Trump instructed federal agencies to support digital assets and blockchain innovation while establishing a national stockpile of key cryptocurrencies. This policy shift has been welcomed by investors, who have endured years of regulatory hostility under the previous administration.

On Sunday, Trump offered new details about the reserve, describing bitcoin and ethereum as “the heart of the reserve”, while also naming Solana, the blockchain network powering many popular memecoins — including Trump’s own token — alongside XRP and Cardano.

The announcement triggered an immediate rally across the crypto market, which had been reeling from weeks of selling pressure due to broader economic uncertainty.

• Bitcoin surged 10% to $93,883.80
• Ethereum gained 13% to $2,477.46
• Solana jumped 19% to $169.71
• Cardano (ADA) soared 50% to over $1
• XRP, linked to payments group Ripple, climbed 31% to $2.83

Traders have cited their frustration that the Trump administration has not moved faster to enact some of the reforms he promised on the campaign trail.

His administration has been quicker to halt enforcement actions against the industry, which the top securities regulator under former president Joe Biden had described as the “Wild West . . . rife with fraud, scams and abuse”.

Binance, the world’s largest cryptocurrency exchange, is widely seen as one of the biggest potential beneficiaries of Trump’s softer regulatory approach. Long targeted by US authorities over concerns about money laundering and operating without proper licenses, Binance has already begun repositioning itself for a friendlier regulatory climate. Analysts expect that a clearer framework for exchanges — along with the symbolic backing of a national crypto reserve — could help Binance re-establish some of the US market presence it ceded during the Biden years. However, questions remain over whether Trump’s administration will draw a line between “compliant” exchanges and platforms still facing unresolved legal or reputational challenges.

Coinbase, a crypto exchange, said last month that the SEC had agreed to drop its landmark case against the company, which it had accused of failing to register as a national securities exchange, broker or clearing agency.

Executives at other groups, including crypto exchanges Gemini and OpenSea, have also indicated that securities regulators have dropped investigations into their businesses.

The White House will host the first cryptocurrency summit this month, and traders will be closely watching for indications from the president’s working group that they are moving closer to the launch of a crypto stockpile. This kind of reserve has been championed by crypto traders, who believe something akin to Fort Knox for gold — which would buy and hold bitcoin — would offer legitimacy to the asset class.

Trump courted the crypto industry while on the campaign trail, headlining a bitcoin conference in Nashville last July.

Speaking last month, Trump said that he had ended “Joe Biden’s war on bitcoin and crypto. We ended that war totally.” He added that his campaign had won “that vote entirely.”

Subscribe to Notifications