Cardano Explodes 57% as Trump Names ADA in US Crypto Reverse, Best Altcoin in Buy?

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Cardano was among five cryptocurrencies that Donald Trump announced will be added to the US government’s crypto strategic reserve on Sunday, alongside Solana, XRP, Bitcoin, and Ethereum.

However, Cardano has performed best on the news, soaring by 57%. Is this the best altcoin to buy now, or could other trending cryptos like Best Wallet token, Hedera, and Onyxcoin give better returns?

$ADA Outpaces Competitors on Strategic Reserve News

After Trump announced a crypto strategic reserve on his social media platform Truth Social, the Cardano price has skyrocketed to $1.05, closing in on its highest price of the year.

Analyst Eilert noted that Cardano has just printed its strongest daily candle since 2017, underlining the announcement’s significant impact.

With that, traders are excited that Cardano could be preparing for an even bigger rally. According to analyst Sal, $ADA could see 3x gains in the coming weeks.

Analyst JRNY Crypto suggests that the reason Cardano is the best performer on the strategic reserve announcement is that it’s “the underdog with the most potential.”

“Combine the decentralization of Bitcoin, the smart contract functionality of Ethereum, and the government application of XRP on a Layer 1 and you get Cardano,” he wrote.

Cardano Ecosystem Advancements

Besides the longstanding fundamentals that JRNY Crypto highlighted, numerous recent advancements in the Cardano ecosystem have contributed to its strong performance.

One of these is talks that it will partner with Hedera blockchain to build a yield-bearing stablecoin. This follows the recent Hedera conference, HederaCon, which also made headlines for SWIFT, confirming that it will integrate the Hedera blockchain to facilitate faster and more transparent payments.

Beyond that, it’s rumored that Cardano Founder Charles Hoskinson met with Donald Trump in Florida just days before he announced the strategic crypto reserve. Details on the meeting are scant, but it appears that Cardano is closely in alignment with the US government.

Thanks to the rise of Cardano and other altcoins, Bitcoin’s dominance has dropped below 50%. This indicates that the altcoin market is gaining strength and paves the way for further growth in the months to come.

What are the best altcoins to buy now?

The altcoin market is on fire today, but analysts believe a project called Best Wallet token could outperform.

It’s a new multichain wallet that supports over 60 different blockchains, making it a diversified bet. The wallet will support all the projects mentioned in the strategic reserve: Bitcoin, Ethereum, Cardano, Solana, and XRP. It will also have a cross-chain DEX, a crypto debit card, and a fleet of other innovative features.

Best Wallet token is currently undergoing a presale and has raised $10.6 million so far. Given its early stage and affiliation with all the cryptos mentioned in the strategic reserve, there’s clearly massive potential for $BEST.

Holding the token provides the added advantages of trading fee discounts, higher staking yields, governance rights, and access to promotions on partner projects.

Analyst Crypto Gains recently said that $BEST could give an “easy 10x.”

Another promising project right now is Hedera. As mentioned, Hedera has recently partnered with SWIFT, a considerable achievement that legitimizes the asset and could enable long-term prosperity.

Hedera has also been a top performer recently, soaring 27% last week. Due to its strong performance, it now stands as the 11th largest cryptocurrency by market cap, having recently flipped Chainlink.

As one of the largest cryptocurrencies on the market, Hedera could even be considered a potential addition to the strategic reserve in the future.

In the past 24 hours, Onyxcoin has been the second-best-performing cryptocurrency after Cardano, pumping 29%. It falls into the “Made in the USA” coin category, which makes it favorable for a potential addition to the strategic reserve.

The Onyxcoin blockchain, known as XCN Ledger, is an Ethereum layer 3 built on top of Arbitrum and Base. It’s a payments-focused network designed for “financial-grade applications.”

The blockchain leans toward institutional adoption, placing it in a similar category to XRP and Hedera. However, being a layer 3 built on Arbitrum and Base, XCN Ledger has easy access to the Ethereum network. This reduces fragmentation and allows for seamless accessibility for builders and users.