U.S. President Trump unveils proposal for cryptocurrency reserve, encompassing Bitcoin, Ethereum, and SOL.
In the dynamic world of cryptocurrencies, three digital assets have been making headlines in recent days: Bitcoin, Ethereum, and Solana.
Bitcoin, the undisputed leader in the crypto market, maintained its position despite a mild pullback. The digital gold's price retraced from earlier highs above $116,700, settling at $115,838.39, a 0.83% decrease. However, the market cap of Bitcoin remains impressive at $2.3 trillion.
The second-largest cryptocurrency, Ethereum, demonstrated momentum through volume surges. Its trading price rose to $4,519.17, a 0.58% increase, and its market cap stands at $545.4 billion. Ethereum's flexible monetary policy, which allows for issuance beyond the capped supply of Bitcoin, continues to be a significant factor in its growth.
Meanwhile, Solana, the sixth-largest cryptocurrency by valuation, has been making waves. With a circulating supply of 543 million tokens out of a total of 609 million, most Solana tokens are already active in circulation, limiting inflationary concerns. Solana's strong developer activity reinforces its long-term positioning. The cryptocurrency rebounded sharply during later hours, highlighting demand support, and closed at $239.77, a 0.76% increase. Solana's market cap reached $130.2 billion, thanks in part to about $1.6 billion inflows from institutions amid expectations of a US spot ETF approval by VanEck and Franklin Templeton.
The strong recent price increases in Bitcoin, Ethereum, and Solana have been driven largely by institutional investors and firms. Bitcoin, for instance, has seen continuous large buys by Strategy under Michael Saylor, maintaining daily purchases of at least $50 million, creating demand that exceeds miner sell pressure. Ethereum remains a core holding for diversified portfolios with strong long-term growth potential.
Trading volumes have also seen a significant increase. Bitcoin's daily trading volume increased by 34.53% to $59.3 billion, while Ethereum's daily trading volume increased by 35.16% to $42 billion. Solana's daily trading volume, too, saw an increase of 23.7% to $9.18 billion.
As the cryptocurrency market continues to evolve, these three digital assets are expected to remain key players, shaping the future of digital finance.
