
Charan Teja
@tejanimmakayala
843 Following
35 Followers
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Market Reacts to Strategic Reserve Plans
President Donald Trump's recent announcement of a U.S. Crypto Strategic Reserve, intended to include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA), has had mixed effects on the market. The reserve aims to position the U.S. as a leader in digital assets. However, the revelation that the reserve will consist solely of cryptocurrencies already held by the government, primarily from asset forfeitures, has led to market disappointment. Bitcoin experienced a 4.2% decline to $79,500, marking a 12% drop over the past week. Similarly, XRP's price fell 4.5% to $2.19, influenced by uncertainties surrounding its inclusion in the reserve. Additionally, Coinbase's stock plummeted 10% to $197.61 per share, partly due to unmet policy support expectations from the recent White House Crypto Summit.
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