The crypto market has been boosted after President Trump announced over the weekend that the U.S. is setting up a strategic crypto reserve.
Investors went wild, sending coins like Bitcoin and Cardano soaring.
Demand for the new Solana Layer-2 project Solaxy also spiked – taking its total presale fundraising past the $24.8 million mark.
Trump’s Crypto Reserve Plan Sends Bitcoin and Cardano Soaring
Things got hectic after Trump’s post on Truth Social yesterday.
In this post, he laid out his plans for a “Crypto Strategic Reserve,” which will include some big-name coins.
Bitcoin immediately took off, briefly hitting $95,000 before pulling back – and is now hovering around $93,000.
That marks an 8% jump from where it was yesterday.
Trading activity also spiked, with spot volumes soaring 250% as traders rushed for exposure.
Many are betting on Bitcoin hitting the $100,000 mark again for the first time since February 7.
But the real star of the show has been Cardano.
ADA’s price rocketed to $1.17 last night before easing back to $0.98, but the hype is still there.
Spot trading volumes for ADA have exploded by 1,911% in less than 24 hours.
Futures market activity has heated up too, with open interest climbing 113%.
Crypto Market Surges Back Above $3 Trillion After Trump’s Announcement
It’s not just Bitcoin and Cardano that are rallying right now.
The total crypto market cap has bounced back over the $3 trillion mark, jumping 7% since yesterday.
Both retail and institutional traders are rushing to participate, with overall spot volumes up 221%.
Almost every major crypto is in the green.
Only BNB and LTC show modest losses, but they are exceptions to an otherwise bullish trend.
Crypto experts point to the legitimizing effect of government backing as the driving force behind all this bullishness.
If the U.S. government were to become a major holder, it would transform cryptocurrencies from speculative assets to strategic resources.
Think of it like the gold stockpile at Fort Knox.
It would act like a financial safety net, proving America’s commitment to crypto and its role in the future economy.
A U.S. Crypto Reserve could even help stabilize the price of major coins like BTC and ETH.
That might be the key to widespread crypto adoption.
Solaxy Seizes the Momentum with $24.8M Presale Raise – Is SOLX Next to Rally?
The new project Solaxy is also capitalizing on optimism in the crypto market.
Still in its presale phase, this Solana Layer-2 solution has seen demand ramp up since Trump’s announcement, pushing its fundraising total past $24.8 million.
The timing couldn’t be better for Solaxy.
As the first scaling solution for Solana’s increasingly congested network, it’s well-positioned to benefit from Trump’s shoutout.
With SOL named as part of the planned reserve, investors are betting big on anything linked to the Solana ecosystem, including Solaxy.
Those looking for exposure can secure SOLX, Solaxy’s native token, for just $0.001652 in presale.
Solaxy’s team accepts purchases using ETH, SOL, USDT, BNB, or credit/debit card.
And now crypto influencers are taking notice, including ClayBro, who told his 136,000 YouTube followers that Solaxy could “lead” the Layer-2 blockchain space.
He also noted that Solaxy has been audited by Coinsult, adding to its appeal.
Though the project’s official launch is still weeks away, the hype surrounding it is ramping up, as evidenced by the activity on X (formerly Twitter) and Telegram.
SOLX is also climbing the ranks on CoinSniper.net.
So, given its connection to a potentially government-backed blockchain, Solaxy has an exciting narrative with which few (if any) presale projects can compete.
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