Solana (SOL) and XRP both outperformed the overall crypto market on Thursday amid a report that President-elect Donald Trump is thinking about establishing an “America First” strategic crypto reserve.
The New York Post, citing anonymous sources, reports that Trump is “receptive” to the idea of a national strategic reserve with Solana, XRP and the stablecoin USDC.
All three assets were developed in association with blockchain projects that are headquartered in the US.
Trump met with Ripple’s chief executive Brad Garlinghouse and chief legal officer Stuart Alderoty last week.
The New York Post reports that the president-elect also met with the “founders” of Solana and USDC.
Circle, the firm that issues USDC, contributed $1 million worth of the stablecoin to Trump’s inaugural committee earlier this month.
XRP is trading at $3.30 at time of writing. The 3rd-ranked crypto asset by market cap is up 7% in the past day and nearly 45% in the past week.
SOL is trading at $214.16 at time of writing. The 6th-ranked crypto asset by market cap is more than 5% in the past 24 hours and more than 14% in the past seven days.
Both assets’ gains materialized on Thursday as the overall crypto market cap moved sideways, according to CoinGecko.
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Generated Image: Midjourney
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