US’s crypto reserve list issued; prices of digital currencies increase

US President Donald Trump announced the names of five major digital currencies for the new crypto strategic reserve, after which the crypto market saw a huge boom.
Trump announced on social media that under his January executive order, the U.S. crypto reserve would include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and Cardano (ADA). After this announcement, the prices of these currencies increased by 8 to 62 percent.

Trump said: “This crypto strategic reserve will help make america a crypto capital. XRP, SOL and ADA will be included, while BTC and ETH will also be an integral part of it. ”

The move is seen as a major victory for the crypto industry, as the Trump administration has stepped up steps to promote cryptocurrency, while the previous Biden administration had imposed strict sanctions on it.

Since the announcement, the crypto market has seen significant improvement, with Bitcoin (BTC) rising 8 percent to 90,828, Ethereum (ETH) rising 8.3 percent to 2,409.

The Trump administration is also hosting the “White House Crypto Summit”, which will be attended by big names in the crypto industry. In addition, the U.S. government has also begun considering managing crypto reserves through an “exchange stabilization fund.”

It’s unclear how the reserve will work, but experts say the government could add cryptocurrencies seized by law enforcement agencies.