Solana (SOL) witnessed a massive price surge today, climbing over 22% to $172.38. The rally follows a major announcement from U.S. President Donald Trump, who revealed plans for a Crypto Strategic Reserve that will include Solana (SOL) along with XRP and Cardano (ADA). Incidentally, Bitcoin and Ethereum were only added later in the list.
In a statement, Trump emphasized the importance of strengthening the U.S. crypto industry, claiming that the Biden administration’s policies had hindered growth. He said. “I will make sure the U.S. is the Crypto Capital of the World.”
Solana’s price spike comes amid increasing investor confidence in digital assets linked to Trump’s pro-crypto stance. According to CoinMarketCap, Solana’s market cap has surged to $87.5 billion, reflecting a 23.63% increase in the past 24 hours.
Additionally, the 24-hour trading volume has skyrocketed by 134.07% to $8.79 billion, signaling heightened market activity. Solana’s circulating supply now stands at 507.59 million SOL, while its fully diluted valuation (FDV) has crossed $103 billion.
The broader cryptocurrency market has also reacted positively to Trump’s announcement. Cardano (ADA) surged by 70%, breaking past the $1 mark, while XRP gained 31%, reaching $2.83. Bitcoin (BTC) also saw an upward trend, rising by 5.5% to surpass $88,900. Analysts believe this shift in U.S. policy could drive institutional adoption and long-term growth for cryptocurrencies.
Also Read: With Trump’s Crypto Reserve, Market set for a Revival Week from Monday
