Solana Surges 22% as Trump Endorses It Over Bitcoin in Crypto Reserve

Solana (SOL) has witnessed a strong price surge today, rising over 22% to $172.38. This price surge comes after an important announcement from US President Donald Trump, who revealed plans for the Strategic Cryptocurrency Reserve Fund to include Solana (SOL) alongside XRP and Cardano (ADA). By the way, Bitcoin and Ethereum were only added to the list later. In a statement, Trump emphasizes the importance of strengthening the US cryptocurrency industry, stating that the Biden administration's policies have hindered growth. He said, "I will ensure that the US is the capital of the world's cryptocurrency."

Solana price surged amid growing investor confidence in digital assets related to Trump's support for cryptocurrency. According to CoinMarketCap, Solana's market capitalization has skyrocketed to $87.5 billion, reflecting a 23.63% increase in the past 24 hours. In addition, the 24-hour trading volume has surged by 134.07% to $8.79 billion, signaling high market activity. Solana's circulating supply is currently at 507.59 million SOL, while the fully diluted valuation of FDV( has exceeded $103 billion. The cryptocurrency market in general also responded positively to Trump's announcement. Cardano )ADA( surged 70%, surpassing the $1 mark, while XRP rose by 31% to $2.83. Bitcoin )BTC( also witnessed an upward trend, gaining 5.5% to surpass the $88,900 level. Analysts believe that this change in U.S. policy could boost adoption by institutions and long-term growth for cryptocurrencies.