Why Is Crypto Market Pumping?

Today, March 02, 2025, will be noted as one of the significant days in the realm of cryptocurrency following the pro-crypto announcement by former United States President Donald Trump. In a recent post on X (formerly Twitter), Trump made a big announcement that the government is moving forward with the Crypto Strategic Reserve.

Following the announcement, the overall cryptocurrency market soared significantly, especially XRP, Cardano (ADA), and Solana (SOL), as Trump included these cryptos in the U.S. Crypto Reserve.

In a post on X, Trump stressed that a U.S. Crypto Reserve would elevate this critical industry after years of corrupt attacks by the Biden administration. Additionally, he stated, “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN.”

As of now, the overall cryptocurrency market is up by 8%, with top-tier assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA) rising by 8%, 13%, 25%, 35%, and 75%, respectively, in less than 90 minutes.

This announcement has recovered all the losses the overall crypto market experienced in the past few weeks. Moreover, it seems that this price rally across the crypto industry will continue to soar.