Dogecoin (DOGE), Ethereum The (ETH) is a Solana The price of (SOL), which surged after U.S. Presidential Donald Trump’s announcement last Friday about a crypto reserve, has fallen by double digits over the past 24 hour.
According to CoinGecko ETH has fallen 11.4% over the last 24 hours, and 13.9% in the week. This is despite Trump’s claim that it will be added to the U.S. Crypto Reserve in a Truth Social post. In a post on Truth Social, Trump said that ETH would be included in the U.S. crypto reserve.
SOL has fallen 16.1% during the past day and down 2.9% over the course of the week as a result of Trump’s announcement about crypto reserves. SOL is trading at its lowest level since early September, 2024. After hitting a three-month-low just weeks earlier, it’s now down 16.1% over the past 24 hours.
DOGE, meanwhile, recorded losses of 12,4% in the last 24 hour and 6,6% over the week. The price is at the lowest since November 20, 2024. It spiked along with the other crypto markets’ post-announcement rise despite not being included in Trump’s plans for crypto reserves.
The rapid decline in prices could be due, according to Dr. Sean Dawson of Derive.xyz’s head of options research, to the uncertainty surrounding the specifics of Trump’s reserve plan.
“This market behavior highlights that while announcements like Trump’s strategic reserve can spark short-term excitement, the lack of clarity and follow-through can lead to rapid corrections,” Dawson added that. Dawson added. “Volatility will likely remain high as traders navigate the uncertain year ahead.”
He pointed out that prominent figures in the crypto-industry have criticised the inclusion of those who are not.Bitcoin Gemini’s Cameron Winklevoss, Coinbase’s Brian Armstrong and Tyler Winklevoss are among the digital assets that will be held in strategic reserves. Bernstein, a financial firm, has been equally skeptical.
Cameron Winklevoss has recently tweeted about this. “Bitcoin is the only asset that meets the bar for a store of value reserve asset,” adding, “Maybe Ethereum.”
Valentin Fournier of crypto-research company BRN attributed the sharp declines in cryptocurrency to “Trump’s confirmation that 25% tariffs on Mexico and Canada will take effect on March 4th” He said that “injecting uncertainty into the market” Create a “risk-off sentiment.”
According to CoinGecko, the total market capitalization of all crypto currencies is down by 10.7%. Stocks have been down in all sectors, not only cryptocurrencies. This is due to Trump’s new tariffs.
The Nasdaq is down 2.64% at the time of writing, while the S&P 500 is down 1.76%, per data from Yahoo Finance.
The crypto research group QCP has also pointed out that other macroeconomic forces are behind the price correction of the cryptocurrency market, including falling yields on 10-year U.S. Treasury Bills.