Crypto Market Gets a Boost: Trump's 401(k) Move Sparks Surge

The crypto world is buzzing with excitement as major coins like Ethereum, Solana, and XRP see a jump in value. This comes after news that President Trump might sign an order allowing crypto in 401(k) retirement accounts. Ethereum has gone up by 7. 3% in just one day, reaching a price of $3, 856. 26. This surge has led to $126 million in short positions being wiped out. Solana and XRP have also seen gains of 4. 9% and 4. 1% respectively. Experts now think there's a 30. 5% chance Solana could hit a new high by the end of the year, though it still has a way to go. The entire crypto market has seen a 2. 9% increase, showing a rebound after some recent setbacks. This positive trend comes amid reports that Trump is set to sign an executive order on Thursday. The order would allow for crypto and other alternative assets to be included in 401(k) accounts. Currently, 401(k) accounts hold about $8. 7 trillion in assets. While crypto ETFs are already an option, this new move could open up direct investment in cryptocurrencies. The news has eased some concerns following Trump's recent trade war actions. Among the top 100 cryptocurrencies, Pudgy Penguins’ PENGU token has seen the biggest jump, up by 13. 1%. Ethena, a stablecoin protocol based on Ethereum, has also gained 12. 2%, breaking into the top 40 by market cap. Most of the top 100 coins are in the green, with only two seeing significant losses.