Altcoin
BTC & Altcoins Pump Hard Amid Trump’s Crypto Reserve Backing
The crypto market today (March 3) has reignited bullish sentiments among traders and investors globally. Bitcoin (BTC) price tapped a $95K high intraday, whereas Ethereum (ETH), Solana (SOL), & XRP prices gained 9%-25%. Notably, the broader bullish action comes amid U.S. President Donald Trump’s recent backing for a strategic crypto reserve that includes XRP, SOL, and ADA.
Crypto Market Today: BTC, ETH, XRP, & SOL Jump Amid Trump’s Crypto Reserve Saga
The global crypto market cap rose substantially by over 8% in the past 24 hours, regaining a break above $3 trillion. Further, the total market volume also skyshot 141% over the past day, reaching $185.95 billion.
Intriguingly, the broader market shows bullish actions primarily as the pro-crypto president is backing a crypto reserve in the U.S. As per a recent Forbes report, a crypto strategic reserve that includes XRP, SOL, and ADA is eagerly awaited nationwide, as indicated by Trump. Notably, this event emerged as potential buy-the-dip news for investors.
BTC Touches $95K High
As of press time, BTC price gained over 8% and exchanged hands at $92,759. The flagship coin hit a 24-hour low and high of $85,040.21 and $95,043.44 in the past 24 hours. Notably, BTC futures OI surged 7% to $54.74 billion today, signaling renewed market interest in the coin that triggered a bullish action. Nevertheless, Bitcoin’s dominance was down by 0.3% over the day, indicating altcoins gained harder.
ETH Price Jumps 10%
ETH price soared over 10% in the past 24 hours and closed in at $2,446. The coin hit a bottom and peak of $2,175.32 and $2,548.81 in the past 24 hours. Ethereum rises alongside a 6% surge in its futures OI to $21.17 billion, underscoring rising market interest. Nevertheless, Ethereum’s market dominance remained down to 9.6%.
XRP Price Shoots Up 24%
Ripple’s XRP led the broader market gains today, rallying 24% to $2.79. The coin’s intraday low and high were $2.23 and $2.97, respectively. XRP futures OI soared 38% over the day, reaching $4.33 billion. Overall, Ripple’s coin leverages renewed market interest amid Donald Trump’s crypto reserve backing.
SOL Price Rockets 18%
Simultaneously, SOL price witnessed an 18% uptick in the past 24 hours, closing in at $170 in sync with broader trends. The coin hit a bottom and a peak of $140.30 and $178.63 in the past 24 hours. Solana futures OI gained over 14% in a day, reaching $5.01 billion.
Meme Crypto Market Reflects Bullishness
Dogecoin (DOGE) price was up by 10% in the past 24 hours, trading at $0.2272. Also, Shiba Inu (SHIB) price followed, up nearly 6% to $0.00001451. Pepe Coin (PEPE) price sky shot nearly 10% to reach $0.000008508.
Top Crypto Market Gainers Today
Cardano (ADA)
Price: $1.05
24-Hour Gains: +59%
Onyxcoin (XCN)
Price: $0.01982
24-Hour Gains: +26%
Cronos (CRO)
Price: $0.09035
24-Hour Gains: +22%
Top Crypto Market Losers Today
Maker (MKR)
Price: $1,524
24-Hour Loss: -6%
Celestia (TIA)
Price: $3.97
24-Hour Loss: -5%
Berachain (BERA)
Price: $8.24
24-Hour Loss: -1%
In conclusion, the broader market mirrors a bullish action primarily as the pro-crypto U.S. President revealed plans for a strategic crypto reserve, including SOL, ADA, and XRP. Traders and investors continue to anticipate further gains, given the market sees such a feat moving ahead.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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