U.S. President Donald Trump announced the names of 5 cryptocurrencies that will be included in the new strategic reserve for U.S. cryptocurrencies on Sunday, leading to a rise in the value of each during trading.
Trump stated on social media that his executive order issued in January regarding digital assets would create a stockpile of currencies including Bitcoin, Ether, Ripple (XRP), Solana (SOL), and Cardano (ADA). The assets rose by 10% to 35% in Sunday trading. Other digital assets also increased in value.
Trump added that his order "directed the presidential working group to move forward with the strategic reserve for cryptocurrencies which includes XRP, SOL, and ADA. I will ensure that the United States is the capital of cryptocurrencies in the world."