The recent surge in the cryptocurrency market can be attributed to a groundbreaking announcement by U.S. President Donald Trump.
He revealed plans to establish a national cryptocurrency reserve, which would include major digital assets such as Bitcoin, Ethereum, XRP, Solana, and Cardano. This unexpected move sent shockwaves through the market, significantly boosting investor confidence and triggering a rally across several key cryptocurrencies.
On March 2, 2025, the market saw impressive gains: Bitcoin surged by nearly 11%, Ethereum climbed by approximately 14%, and XRP skyrocketed by over 35%. The total cryptocurrency market capitalization witnessed a remarkable 10% increase within just 24 hours, reflecting an overwhelming positive sentiment among traders. This rally was further fueled by strategic buying after a week of price corrections, creating a perfect storm for a breakout.
To sum up, the catalyst for this market surge was Trump's announcement of the national crypto reserve, which ignited a new wave of optimism. With major cryptocurrencies experiencing significant gains, this event has undoubtedly reshaped market sentiment and could signal more bullish trends in the coming weeks.
