Cardano’s ADA token skyrocketed 64% today (Monday), boosted by a game-changing announcement from President Donald Trump. The U.S. government will establish a strategic crypto reserve, including ADA alongside XRP, Solana (SOL), Bitcoin (BTC), and Ethereum (ETH).
This unexpected policy shift triggered a wave of investor enthusiasm, propelling ADA past Dogecoin (DOGE) to become the eighth-largest cryptocurrency with a market capitalization of more than.
At the time of publication, the altcoin was trading at $1, representing a 53% and 37% increase in the past day and week, respectively. The boost represents a market recovery following a brutal February when Trump’s announcement provided a fresh catalyst for growth.
His statement, posted on Truth Social, framed the crypto reserve as a countermeasure against what he called “corrupt attacks by the Biden Administration.”
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump wrote. “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!”
Trump’s Crypto Reserve Sparks Market Frenzy
Trump assured investors that the reserve would strengthen the U.S. position in the global digital asset industry. The move caught the market off guard, as previous discussions around government-held crypto had been limited to Bitcoin stockpiling rather than an active reserve.
While the entire crypto market reacted positively, Cardano stood out as the biggest gainer. The token’s price soared from $0.64 to $1.13, marking its highest point in over a month. ADA’s all-time price high was achieved in 2021 when the altcoin soared to $2.9.
Before the rally, ADA had suffered significant losses, plunging in a trend of lower highs and lower lows. However, Trump’s announcement reversed its fortunes, pushing it ahead of Dogecoin in market cap rankings.
Institutional Interest Adds to Bullish Momentum
Large investors, often called “whales,” responded swiftly to Trump’s declaration. Blockchain analyst Ali Martinez reported that whales purchased over 270 million XRP and around 200 million ADA in just 24 hours.
Whales bought nearly 200 million #Cardano $ADA in the last 24 hours! pic.twitter.com/VTUguEIbyG
— Ali (@ali_charts) March 2, 2025
This influx of capital signaled strong institutional confidence in the assets chosen for the U.S. reserve. However, it also warns of short-term volatility, as ADA’s relative strength index (RSI) entered overbought territory but is currently at 64.
Historically, such conditions have led to brief pullbacks before resuming an upward trend. The market’s focus now shifts to Trump’s upcoming White House Crypto Summit. If Trump’s administration continues to embrace digital assets, ADA and other selected cryptocurrencies could see sustained growth and potentially reach $10.
This article was written by Jared Kirui at www.financemagnates.com.
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