Bitcoin increases by 10% to 92,900 US dollars after Trump announced the strategic reserve of Crypto. Cardano, XRP rally up to 64%

Bitcoin and other large cryptocurrencies rose on Monday after US President Donald Trump announced plans to add digital assets to a new US strategic reserve. Trump on social media revealed that five cryptocurrencies – Bitcoin, Ether, XRP, Solana and Cardano – part of the reserve, with Bitcoin and Wohere, with Bitcoin and Ether, would be at its core.

After the announcement, Bitcoin rose 10% to 92,905 US dollars in early trade, while ether had entered $ 2,443 after 13%. Among the selected cryptocurrencies, Cardano led to $ 1.07 with an increase of 64%, followed by XRP, which rose to $ 25% to $ 2.79. Solana also made a profit of 18%.

“The cryptom market gained strong dynamics when Trump announced the strategic crypto reserve, including tokens such as XRP, Solana (SOL) and Cardano (ADA) as well as Bitcoin and Ethereum. This step triggered a turnaround on the market, whereby the market coins on 60% in the expectations at global adoption integration reserves The market came.

Vikram Subburaj, CEO of Giottus, added that if Bitcoin surpasses 95,000 US dollars this week, altcoins will probably surpass the top crypto assets.

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Despite the latest increase, Bitcoin fell by more than 17% in February and marked its steepest monthly decline since June 2022. The cryptocurrency has lost more than a third of its value since the beginning of January. However, the rally since Trump's election campaign in November has been fueled by optimism that his administration will be more crypto -friendly than that of Joe Biden, who may end regulatory procedures.

Other cryptocurrencies also gathered, with Dotecoin increasing by 11%, the chain link by 14%, the avalanche rose by 12%and SUI by 9%.

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The market capitalization of Bitcoin rose to 1.844 trillion dollars with its dominance of 59.56%. According to CoinmarketCap, the 24-hour trading volume rose by 146.6% to $ 65.6 billion, while stable coins made $ 172.94 billion or 90.96% of the total crypto trade volume.

“IF Bitcoin Maintains Support Above $ 88,000, analyst Predict a Breakout Past $ 100,000. Short sellers are folding as bullish momentum builds, positioning btc for a potential $ 150,000 rally in March. Developments as Bitcoin Edges Toward a New All-Time High, “Said Said Sathvik Vishwanath, Co-Founder and CEO of Unocoin.

((Disclaimer: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of the economic times)