Cryptocurrency markets rose on Sunday after President Donald Trump announced the launch of a US strategic crypto reserve that includes Bitcoin, Ethereum, XRP, Solana and Cardano.
The US president said the US Crypto Reserve would boost the digital industry after years of being stifled by corruption under the Joe Biden administration and his Executive Order on digital assets.
He added that Bitcoin and Ethereum would lead other valuable cryptocurrencies in the midst of the creation of the strategic reserve.
At the time of the announcement, XRP token jumped 33%, Solana rose 25% and Cardano rose more than 60%.
Bitcoin rose 10% to $94,343.82 after falling to a three-month low below $80,000 while Ethereum, the biggest loser in crypto so far, gained 13%.
Trump hosted the first-ever White House Crypto Summit on Friday and investors will be watching closely for more clues about the direction of the reserve plan.
The plan marks the first time Donald Trump has shown his support for the crypto market.
