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Crypto

Trump's Crypto Comments Spark Market Surge

Guavy AI Editorial Team
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The cryptocurrency market experienced a significant surge overnight, with Ethereum leading the pack in terms of growth. According to CoinGecko data, ETH's price increased by over +18% in the past 24 hours, reaching $2,325 and making it the 8th largest liquidation event in recorded history.

The broader crypto market saw a +7.5% increase overnight, with the total market capitalization reaching $2.45 trillion. This surge is largely attributed to comments made by President Donald Trump during a meeting with cryptocurrency executives from firms such as Coinbase Global Inc., Payward Inc., and Blockchain.com Group Holdings Inc.

Trump stated that America plans to buy 'sizable' amounts of Bitcoin and other cryptocurrencies, emphasizing the US's commitment to becoming the undisputed leader in this space. This news sent a wave of excitement through the market, with Bitcoin climbing to $69,900 and Ethereum surpassing $2,000.

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