The digital currency market has experienced significant fluctuations recently. While Donald Trump’s announcement of creating a ‘crypto strategic reserve’ led to rapid price growth, this trend was not sustainable. Initially, Cardano (ADA) saw over 64% growth, Ripple (XRP) about 32%, and Solana (SOL) close to 27%. However, this price surge was not continuous, and in the past 24 hours, the market faced a severe decline, with Bitcoin (BTC) losing around 6.5% and Ethereum (ETH) over 10% of their value. The recent downturn was mainly due to Trump’s announcement of a 25% tariff on imports from Canada and Mexico and retaliatory actions by China. This decision created new concerns among financial and crypto market investors, leading many to withdraw their capital, increasing selling pressure. Although the announcement of the crypto strategic reserve created excitement in the market, there are still many uncertainties about its execution and funding. Trump has not specified when this reserve will become operational or how the government plans to acquire these assets. The first White House crypto summit scheduled for Friday may provide more information on this. Some industry leaders like Brian Armstrong, CEO of Coinbase, believe that this crypto strategic reserve should only include Bitcoin. In contrast, analysts at Grayscale believe that investors are seeking to diversify their digital asset portfolios, and focusing solely on Bitcoin may not meet market needs. Despite the sharp price decline, some analysts remain hopeful for a market recovery. Many major digital currencies are at significant support levels, and if investor sentiment improves, a renewed upward trend may begin. Additionally, the White House summit on Friday could have a significant impact on the future path of the crypto market. You can view the live prices of all tokens and cryptocurrencies on the Momentary Digital Currency Prices page.
