07.08.2025 23:42
A surge in the cryptocurrency market is underway, with significant gains observed across major altcoins such as Ethereum, XRP, and Solana. This rally follows reports from Bloomberg that President Trump is poised to issue an executive order permitting the inclusion of cryptocurrencies in 401(k) retirement plans.
The potential impact of this executive order is substantial, given the approximately $8.7 trillion currently held in 401(k) accounts. Should the order proceed as rumored, a considerable influx of capital into the cryptocurrency market is anticipated, potentially driving further price increases. This development has significantly boosted investor sentiment.
Ethereum, in particular, has experienced a remarkable 7.3% increase in the past 24 hours, reaching a price of $3,856.26 and boasting a market capitalization of $465 billion, as reported by CoinGecko. This price jump resulted in the liquidation of $126 million in short positions on the second-largest cryptocurrency, according to CoinGlass, highlighting the market's volatility and rapid response to the news.
Other altcoins also saw considerable gains, with Cardano, Solana, and XRP registering daily increases of 5.7%, 4.9%, and 4.1%, respectively. Predictive models from Myriad Markets now estimate a 30.5% probability of Solana achieving a new all-time high before the year's end, though this would require a substantial 41.3% price increase from its current level, given its January peak of $293.31. (Note: Myriad Markets is a prediction market developed by Decrypt's parent company, DASTAN.)
Overall, the cryptocurrency market capitalization has risen 2.9%, according to CoinGecko, reflecting the positive market reaction to the potential regulatory shift. The Bloomberg report, citing an unnamed source familiar with the matter, indicates that President Trump's executive order, expected on Thursday, will broaden 401(k) investment options to include private equity, real estate, cryptocurrencies, and other alternative assets, signifying a potential paradigm shift in retirement investment strategies. The full extent of this impact remains to be seen, but the initial market response suggests substantial implications for the cryptocurrency sector.
