The Albanese government has no plans to follow the lead of the Trump administration, which has announced plans to stockpile XRP, Solana, Cardano, Ether and Bitcoin.
Brian Armstrong and Tyler Winklevoss say that Bitcoin is a clear “successor to gold,” making it most suitable for inclusion as a US reserve asset.
XRP retraced most of its recent “Trump pump” and data shows whales selling their positions.
ADA, XRP and SOL are seeing profit booking just a day after rallying following President Trump’s US strategic crypto reserve announcement. Is the market headed toward new lows?
Trump plans to include ADA in a US strategic Bitcoin reserve, and futures traders are bullish.
Adding altcoins to the national reserve also increases centralization risk, one analyst said.
United States Senator Dick Durbin proposed legislation aiming to reduce fraud through crypto ATMs.
The crypto market surged after Trump’s reserve announcement, but analysts warned the rally may be temporary as regulatory hurdles remain.
While the idea of a reserve had been floated before, this marked the first time specific altcoins were highlighted, analysts told Cointelegraph.
ZachXBT said major stablecoin issuers like Tether and Circle define blockchain legitimacy, while questioning the absence of stablecoins on Cardano and XRP Ledger.