Breaking News!!! Market Soars

Trump announced in his digital asset executive order, instructing the presidential working group to expedite the construction of the U.S. cryptocurrency strategic reserve, which will initially include XRP, SOL, and ADA. This initiative is part of Trump's efforts to reshape the U.S. position in the digital finance sector, aiming to make the U.S. the global 'cryptocurrency capital'.

Strategic Reserve Targets

The announcement highlights XRP, SOL, and ADA, while also emphasizing Bitcoin and Ethereum as the 'core assets' of the reserve. This arrangement reflects the Trump administration's support for a variety of crypto assets, including mainstream coins as well as some altcoins.

Market Reaction

Prices Surge

After the announcement, the market generally reacted positively. Data shows that Bitcoin's price once surged by about 10%, while the increases for XRP, SOL, and ADA ranged from 20% to 50%, reflecting investors' expectations for legitimacy and momentum brought by government support.

Policy and Regulatory Significance

Contrast with Previous Administration's Policies

Trump's initiative starkly contrasts with the previous administration's strict control over cryptocurrency regulation. The past tightening of regulations had dampened market sentiment, while this executive order reflects support and a lenient attitude towards innovation in the crypto industry.

Potential Institutional Impact

Establishing a national digital asset reserve may provide the U.S. with a strategic advantage in future global digital economy competition. Additionally, this initiative may trigger adjustments to existing regulatory frameworks, potentially involving subsequent scrutiny from Congress and the judiciary.

Follow-up Implementation of the Executive Order

Currently, the specific operational mechanisms for the strategic reserve have not been fully disclosed, and the market will closely monitor how the working group implements the policy and the interplay with congressional regulatory bodies.

Market Confidence and Regulatory Environment

If subsequent policies are implemented smoothly, it may further boost market confidence and create conditions for more institutional investors to enter; conversely, if legal or regulatory obstacles arise during implementation, it could lead to new market volatility.