Trump’s Strategic Crypto Reserve Announcement Sparks Market Rally
On Sunday, U.S. President Donald Trump made headlines by suggesting that major cryptocurrencies such as bitcoin (BTC), ether (ETH), XRP, solana (SOL), and cardano (ADA) could form part of a strategic crypto reserve. This announcement ignited a significant rally in the prices of these digital assets, capturing the attention of investors and market analysts alike.
The rally was primarily driven by a surge in demand on the Nasdaq-listed Coinbase exchange, which is often viewed as a benchmark for U.S. cryptocurrency demand. According to data from TradingView, these cryptocurrencies were trading at a notable premium on Coinbase compared to their prices on the offshore exchange Binance.
The phenomenon known as the Coinbase premium saw substantial increases for XRP, SOL, and ADA, reaching levels not seen since February 3. Meanwhile, BTC and ETH also exhibited slightly elevated prices on Coinbase relative to Binance. This trend is significant, as the Coinbase premium has been a reliable indicator of price rallies over the past year, often confirming the bullish trends within the cryptocurrency market.
