US President Donald Trump has announced plans for a US Crypto Strategic Reserve. Trump declared that the reserve would include XRP, Solana (SOL), and Cardano (ADA), 

According to today’s announcement, Trump has signed an executive order for the Digital Assets Working Group to proceed with this reserve. 

US to Have a National Crypto Reserve with XRP, ADA, and SOL

After much anticipation of a national Bitcoin reserve, the US president has made a major announcement of establishing a national crypto reserve, prioritizing ‘US made cryptocurrencies.’

He framed the initiative as a countermeasure to what he called “corrupt attacks” on the cryptocurrency industry under the Biden administration.

“A US Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the US is the Crypto Capital of the World,” President Trump posted on Truth Social. 

The announcement builds on Executive Order 14178, signed earlier this year, which established the Presidential Working Group on Digital Asset Markets.

The group, led by Crypto Czar David Sacks, was tasked with shaping a national framework for digital assets. This included the potential for a government-held cryptocurrency reserve. It seems that the group has finished their assessment and chose these three digital assets.

Meanwhile, today’s announcement came as a surprising decision for the crypto community. Bitcoin was widely expected to be the foundation of any federal digital asset holdings.

However, Trump’s decision to prioritize XRP, SOL, and ADA suggests a broader approach to blockchain adoption.

XRP and Cardano Goes Parabolic

Immediately after the announcement, all three tokens jumped significantly, with buying pressure quickly increasing. XRP has surged nearly 20%, reaching $2.60 after previous indicators suggested the altcoin might drip under $2 in the bear market.

Cardano has witnessed the biggest rally. ADA is up 30% in the past hour, and the overall ‘Made in US’ crypto segment is up 11%.

Solana is also up by nearly 15% in the past hour. The altcoin was experiencing increased selling pressure due to meme coin controversies and increased scams on the network. However, Trump’s announcement has likely created a new bullish cycle for SOL.

Trump’s push for a national crypto reserve could set the stage for sweeping legislative changes, including potential crypto-friendly tax policies and regulatory overhauls. The Presidential Working Group’s recommendations are expected in the coming months.

Vietnamese authorities have cautioned citizens about the risks tied to the Pi Network, warning that its token lacks real-world utility and remains highly speculative.

On March 2, the Hanoi City police noted a surge in interest surrounding the token, which they attributed to aggressive social media promotions and recent exchange listings following its mainnet launch.

Vietnam Issues Warning on Pi Network Risks and Speculative Nature

The officials warned that Pi Network markets its mining application with unrealistic expectations of continued price increases. According to them, this draws in users who may not fully understand the risks.

The authorities also clarified that cryptocurrencies, including PI, do not have legal asset status in Vietnam. As a result, any disputes or financial losses tied to Pi-related transactions may not be protected by law.

Moreover, the law enforcement agency warned that Pi Network could be misused for fraudulent activities. They highlighted the risk of scams involving fake tokens designed to steal user data and launder money.

“Pi lacks practical applications; its value is self-assigned, leading many to misunderstand its true worth. Some parties might exploit Pi for illegal activities—for example, by creating counterfeit Pi cryptocurrencies to raise funds for fraudulent asset misappropriation, or by developing fake Pi applications to unlawfully collect user data or to gain unauthorized access for defrauding assets or cryptocurrencies in Pi transactions,” the authorities stated.

Additionally, digital assets are not recognized as legal payment methods in the country, and any entity using them for transactions could face penalties or legal action.

“Any individual or organization that uses cryptocurrencies in general, and Pi in particular, for payment activities will be subject to penalties under Clause 6, Article 26 of Decree 88/2019/ND-CP (with fines ranging from 50,000,000 VND to 100,000,000 VND), or may face criminal prosecution under Article 206 of the Penal Code for,” the police wrote.

Considering this, the government urges citizens to verify information before investing and to avoid spreading unverified details on social media. According to the authorities, sharing false or misleading information could result in legal consequences.

“Do not circulate, transmit, or post unverified false information regarding cryptocurrencies in general—and Pi in particular—that could incite public alarm or lead to legal violations,” they added.

This strict regulatory stance aims to protect investors and maintain market integrity. Notably, Vietnamese officials have been scrutinizing Pi Network for years.

Nearly two years ago, they investigated the project, citing concerns over its multi-level marketing (MLM)-like structure and its potential to harm investors.

Meanwhile, the regulatory warning has had an immediate market impact. According to CoinMarketCap data, Pi token prices fell by 18% within the last 24 hours.

Just within a week of its launch, PI had reached an all-time high of $2.98, marking a 20% increase over the past week. Now, it trades at around $1.75, a drop of more than 40% from its peak.

Investors now face uncertainty and must exercise greater caution when dealing with the token.

Onyxcoin (XCN) has been struggling to break its downtrend for over a month despite a notable surge in whale activity.

While whales have been accumulating XCN in large quantities, the lack of broader bullish market cues has prevented a significant price reversal. The altcoin continues to face downward pressure.

Onyxcoin Whales Take Charge

Whale investors holding between 10 million and 100 million XCN have been actively accumulating the token. Over the past three days, these investors have purchased over 368 million XCN, valued at $5.6 million. This shows that whale investors are confident in Onyxcoin’s eventual price recovery, accumulating at lower prices to capitalize on future gains.

The large-scale purchases demonstrate investor optimism, even as the broader market remains relatively bearish. The whales’ actions suggest that they believe the altcoin’s price will rise once the market sentiment shifts, but for now, the general investor sentiment appears mixed.

Onyxcoin’s network growth, an indicator of new addresses and transactions, is currently at a six-week low. This suggests a decline in new users and investors, pointing to Onyxcoin losing traction in the broader crypto market.

The current lack of network activity is a concern, as it signals that new entrants are not interested in purchasing or using the token at present.

The stagnation in network growth implies that while whales remain confident in XCN’s future, the altcoin is struggling to attract fresh retail investors. Without an influx of new investors, Onyxcoin faces challenges in sustaining momentum and reversing the downtrend.

XCN Price Needs A Push

At the time of writing, Onyxcoin’s price stands at $0.0152, with the altcoin stuck below its trend line for the past month. Despite multiple attempts to break out of this downtrend, XCN has yet to succeed. The resistance at $0.0150 continues to hold firm, creating a barrier to any significant price gains.

The recent whale activity could be a key factor in determining whether Onyxcoin can reverse its current trend. A successful breach of the trend line, particularly if $0.0182 is flipped into support, could push the altcoin towards $0.0237. If investor confidence strengthened, this would mark a strong recovery.

However, if new investor sentiment remains weak and retail interest continues to decline, the altcoin could fall through the support of $0.0150. This would push XCN towards $0.0127, invalidating the bullish outlook.

The future of Onyxcoin depends heavily on whether it can attract broader market support and capital.