Trump Just Gave Crypto a Big Boost – Here’s What Happened
If you weren’t online in the last 24 hours, here’s a quick rundown of the key developments—straight to the point:
Big News 🚨
- Bitcoin ($BTC) surged 12%, rising from $85K to $95K after Trump announced the creation of a Crypto Strategic Reserve.
- Ethereum ($ETH) jumped 16%, reaching $2,550, following the same news.
- Trump confirmed that the reserve will include Bitcoin ($BTC), Ethereum ($ETH), Solana ($SOL), Cardano ($ADA), and XRP ($XRP).
- Investor David Sacks hinted at more major announcements coming at the White House Crypto Summit this Friday.
- Trump also stated that additional cryptocurrencies will be added to the U.S. reserve in the near future.
- In the past 24 hours, $830M in trades were wiped out, with $580M coming from short positions.
- The Fear & Greed Index has climbed to 33 (Fear), up from 10 (Extreme Fear) just last week.
What’s Coming This Week?
- March 3 – Manufacturing PMI Report
- March 4 – Trade Tariff Deadline for Mexico & Canada
- March 5 – ADP Employment Report
- March 5 – Non-Manufacturing PMI Report
- March 6 – US Jobless Claims Report
- March 7 – White House Crypto Summit
Altcoin Market Update
- The altcoin market (excluding the top 10 cryptos) gained $27B in value after Trump’s announcement.
- The Altseason Index has risen to 33, up from 27 last week.
Ethereum ($ETH) Takes the Lead
- Ethereum ($ETH) now leads in market attention, surpassing Bitcoin ($BTC) and Solana ($SOL), with 12% of total market focus.
Top Gaining Cryptos in the Top 100
- Cardano ($ADA): +60%
- XRP ($XRP): +32%
- Trump Coin ($TRUMP): +26%
Top Growing Sectors in Crypto
- DeFi projects up +0.94%
- Layer 1 blockchains:
- Cardano ($ADA): +5.38%
- XRP ($XRP): +5.1%
- Solana ($SOL): +2.10%
Biggest Network for Incoming Crypto Funds
- Solana ($SOL) leads with +$23M in inflows.
Trending Crypto Sectors
- AI-powered projects up +21%
- Memecoins up +17%
- DeFi AI projects (DeFAI) up +17%
Top Trending Coins
-
AI Coins:
- $FARTCOIN
- $KWEEN
- $NAVAL
-
Memecoins:
- $TRUMP
- $PEPE
- $MOG
-
DeFAI Coins:
- $GRIFFAIN
- $FUKU
- $BNKR
Biggest Losers
-
RWA projects saw a -0.30% drop in market interest.
-
Top RWA price drops:
- $COLLAT: -26%
- $MKR: -6%
- $ZBCN: -6%
-
Ethereum ($ETH) led in outflows, with -$34M leaving its network.
If you found this update helpful, join the Coderstech Academy’s Morning Market Analysis today at 8 AM for more insights!.