A trio of the top crypto assets by market cap jumped nearly 10% in an hour after President Donald Trump elected to hit pause on his aggressive tariff plan for the next 90 days.
The Ripple-linked XRP, Solana (SOL), and Dogecoin (DOGE) all gained at least 7.5% with XRP leading the pack, jumping 10% on the day to $2.04. SOL and DOGE are now up 12.5% and 10.5% in the last 24 hours, respectively, trimming their weekly losses to less than 10% according to CoinGecko.
“I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10%, also effective immediately,” the President posted on Truth Social.
The market’s response sent major crypto assets like Bitcoin and Ethereum swiftly upward, now up 6.3% and 11% respectively in the last 24 hours. The traditional equities market followed suit, with major indices like the S&P 500 and Dow Jones marking daily gains of more than 6.5% each. The Nasdaq is up more than 10%, with crypto stocks surging as a result.
Gains in altcoins are following in-step, buoyed by the aforementioned trio but extended to other notables like Cardano (ADA), Avalanche (AVAX), and Sui (SUI), all of which now boast daily gains of at least 10%.
Meme coins too are leaping forward, led by flatulence-themed Solana meme coin Fartcoin, which is now up 28% in the last day at $0.725—a gain of 259% in the last month. Other notables on Solana like BONK and WIF have jumped 14% each as well, outperforming even the President’s official token TRUMP, which has only gained 8.1% to $8.25 in the last 24 hours.
Ethereum meme coins Shiba Inu (SHIB) and Pepe (PEPE) are up more than 10% as well, outperforming the meme category as a whole, which is up 8.5% in the last 24 hours according to CoinGecko.
However, despite the daily reprieve, the alternative assets making a push higher remain well off their all-time highs.
DOGE is furthest away, down 78% from its peak of $0.73 in 2021. Meanwhile, XRP remains 40% off the high it created in 2018 and Solana is nearly 60% below its January all-time high.
Edited by Andrew Hayward
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