Solana Price Surges 15% on Rumors of U.S. Strategic Digital Reserve

Solana (SOL) price experienced a significant 15% price increase, climbing to $216.20 following rumors reported by the New York Post. The news suggested that Solana might be included in an “America First” strategic digital reserve. It was proposed by President-elect Donald Trump’s incoming administration.

The strategic reserve is rumored to prioritize U.S.-founded cryptocurrencies, including Solana, XRP, and USDC. Sources familiar with the matter told the New York Post that Trump has reportedly met with representatives of these projects. Trump is in fact receptive to the idea. This development has sparked optimism among investors. It positions Solana as a potential key player in U.S. digital asset policies.

Solana Price Gains Momentum as Market Awaits Policy Changes

The recent report from the New York Post has led to discussions about the possibility of a significant change in the US stance on cryptocurrencies in the new government. President-elect Trump’s proposed reserve would be for supporting U.S. based blockchain projects and may shift the focus away from Bitcoin.

Frank Chaparro, the Director of Special Projects at The Block, noted,

“The entire market is relieved … we have a seismic shift in the approach and tone of the government and regulatory agencies.”

This change is expected to give banks more freedom to deal with cryptocurrencies, which should boost institutional investment.

The following advancements have been positive for Solana’s market performance. The trading volume in the previous 24 hours was up 130.93% at $5.68 billion. While the market capitalization stood at $104.74 billion, which is an indicator of investors’ confidence.

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Price Analysis: Solana’s Bullish Performance

The price of Solana has been constantly increasing during the day, going from $186.50 to $216.20 as depicted on the Solana price chart.

The price went through crucial resistance levels of $210 indicating rising buying pressure and positive market sentiment.

The closing price above $216 shows the bulls are in control and the price may continue to rise. If the market continues to be conducive to such growth, Solana is well equipped with circulating supply of 484.5 million SOL and strong liquidity.

The new Strategic Reserve Plan Raises Questions in the Industry

As the concept of the “America First” strategic digital reserve has been introduced, it has drawn attention along with interest.

The New York Post cited sources that said such a reserve could “delegitimize” the advocacy for Bitcoin. Bitcoin was one of the promises Trump made he would include in the reserve. However, this new focus has not been well received by the crypto community.

The proposal is in line with Trump’s other plans for the industry. These include blocking Gensler from the SEC, forming the Crypto Presidential Advisory Council. It also includes canceling out restrictions under the Operation Choke Point 2.0.