Cryptos bounce back after Trump's announcement of a strategic reserve of crypto assets
Crypto markets regained ground on Sunday after President Donald Trump's announcement on Truth Social about the creation of a strategic reserve of crypto assets in the U.S., which will include bitcoin, ethereum, solana, XRP, and ADA.
Bitcoin rose by 10% after the announcement, surpassing $90,000 again, while altcoins experienced even greater increases, with ADA skyrocketing over 70%.
Trump also confirmed that the first Crypto Summit will be held at the White House this Friday, featuring founders, CEOs, and key investors from the crypto industry, as well as members of the Presidential Working Group on Digital Assets. The event will be chaired by David Sacks, a White House advisor on AI and crypto.
Trump's announcement has boosted sentiment in the markets, with the Crypto Fear and Greed Index rising to 33, a notable change compared to the 10 (Extreme Fear) recorded earlier last week.
Investors will be watching the Crypto Summit on Friday, hoping for more details on the implementation of this strategic reserve of crypto assets.