{"id":16186,"date":"2025-03-24T16:53:39","date_gmt":"2025-03-24T16:53:39","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/24\/crypto-market-recap-white-house-pushes-genius-act-trump-token-surges-past-us12-before-sell-off\/"},"modified":"2025-03-24T16:53:39","modified_gmt":"2025-03-24T16:53:39","slug":"crypto-market-recap-white-house-pushes-genius-act-trump-token-surges-past-us12-before-sell-off","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/24\/crypto-market-recap-white-house-pushes-genius-act-trump-token-surges-past-us12-before-sell-off\/","title":{"rendered":"Crypto Market Recap: White House Pushes GENIUS Act, $TRUMP Token Surges Past US$12 Before Sell-Off"},"content":{"rendered":"<\/p>\n

Here\u2019s a quick recap of the crypto landscape for Monday (March 24) as of 9:00 a.m. UTC.<\/strong><\/p>\n

\n

Bitcoin and Ethereum price update <\/h3>\n

Bitcoin (BTC)<\/strong> is currently trading at US$87,491.91, a 3.4 percent increase over the past 24 hours. The day\u2019s trading range has seen a low of US$84,812.41 and a high of US$88,713.83.<\/p>\n<\/div>\n

\n

Bitcoin\u2019s uptick is partly attributed to President Donald Trump\u2019s recent comments suggesting a flexible approach to upcoming tariffs, which has bolstered market optimism.<\/span>Additionally, strong institutional investments, including MicroStrategy\u2019s acquisition of 6,911 Bitcoins, has further supported the upward momentum.<\/span><\/p>\n

Ethereum (ETH)<\/strong> is priced at US$2,090.15, garnering a 3.7 percent over a 24 hour period period. The cryptocurrency reached an intraday low of US$1,981.37 and a high of US$2,102.94.<\/p>\n<\/div>\n

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Altcoin price update <\/h3>\n

Solana (SOL)<\/strong> is currently valued at US$140.39, up 7.8 percent over the past 24 hours. SOL experienced a low of US$130.47 and a high of US$145.14 on Monday.<\/p>\n

XRP<\/strong> is trading at US$2.46, reflecting a 2.7 percent increase over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.39 and a high of US$2.50. <\/p>\n

<\/span>Sui (SUI)<\/strong> is priced at US$2.39, showing a 6.6 percent increase over the past 24 hours. It achieved a daily low of US$2.24 and a high of US$2.45.<\/p>\n

<\/span>Cardano (ADA)<\/strong> is trading at US$0.7277, reflecting a 3.7 percent increase over the past 24 hours. Its lowest price on Monday was US$0.6942, with a high of US$0.7413.<\/p>\n<\/div>\n

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Crypto news to know <\/h3>\n

<\/h4>\n

<\/h4>\n

<\/span><\/h4>\n

White House pushes Congress to fast-track GENIUS Act<\/h4>\n

The White House is reportedly pressuring Congress to fast-track the GENIUS Act, a bill that would establish a federal regulatory framework for payment stablecoins, with the goal of getting it to President Trump\u2019s desk within two months. <\/p>\n

Introduced by Senator Bill Hagerty, the bill recently passed the Senate Banking Committee with an 18-6 vote and is expected to reach the Senate floor for debate next month under Majority Leader John Thune. <\/p>\n

If the legislation garners strong bipartisan backing\u2014potentially reaching 70 votes\u2014lawmakers may bypass reconciliation with the House\u2019s competing STABLE Act and push it through as-is. <\/p>\n

The push for rapid approval has sparked concerns among lawmakers and industry leaders, with some arguing that a rushed approach could leave key regulatory gaps unaddressed. <\/p>\n

The House Financial Services Committee is set to mark up the STABLE Act on April 2, with some members pushing for compromise between the two bills while others advocate for the Senate version\u2019s swift passage to avoid further delays. <\/p>\n

Crypto lobbyists note that the outcome could significantly shape the stablecoin market, determining the level of oversight stablecoin issuers will face in the coming years.<\/p>\n

Trump\u2019s Truth Social Post Sends $TRUMP Memecoin Soaring Before Rapid Pullback
<\/h4>\n

The official Trump memecoin, $TRUMP, saw a sharp 10 percent surge on March 23, reaching a high of US$12.25 after Donald Trump unexpectedly endorsed the token in an enthusiastic Truth Social post. <\/p>\n

\u201cI LOVE $TRUMP \u2014 SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!\u201d wrote the president, fueling a dramatic rise in trading activity. <\/p>\n

Following the post, the Solana-based memecoin\u2019s market cap jumped 8.3 percent to US$2.37 billion, while its daily trading volume spiked by over 375 percent, signaling renewed investor interest. <\/p>\n

The surge, however, was short-lived\u2014$TRUMP quickly retreated below US$12 as early buyers took profits, with one whale reportedly losing US$207,000 after purchasing a large chunk of tokens and selling at a loss just an hour later. This volatile price action comes amid a broader downtrend for the token, which has declined by over 26 percent in the past month. <\/p>\n

The endorsement follows Trump\u2019s recent virtual speech at Blockworks\u2019 Digital Assets Summit, where he discussed the importance of stablecoin regulations, the strategic role of Bitcoin reserves, and concerns over crypto debanking. <\/p>\n

Michael Saylor\u2019s Strategy expands holdings to 506,000 BTC with latest US$584M purchase
<\/h4>\n

Michael Saylor\u2019s firm, Strategy, continues its aggressive Bitcoin accumulation, announcing the acquisition of 6,911 BTC between March 17 and 23 at an average price of US$84,529 per coin. <\/p>\n

This latest purchase, valued at approximately US$584 million, brings the company\u2019s total holdings to a staggering 506,000 BTC\u2014worth roughly US$44.4 billion at current market prices. <\/p>\n

According to an SEC filing, the acquisition was financed through Strategy\u2019s \u201cCommon ATM\u201d and \u201cSTRK ATM\u201d stock sale programs, with proceeds coming from the issuance of 1.97 million shares of Class A common stock and 13,100 shares of its 8.00 percent Series A perpetual strike preferred stock. <\/p>\n

This funding strategy allows Strategy to continue accumulating Bitcoin without diluting the voting power of common shareholders.<\/p>\n

Since its first Bitcoin purchase in 2020, the firm has seen its holdings appreciate by approximately 32 percent, representing an unrealized gain of over US$10.6 billion. The company\u2019s latest offering of \u2018Series A Perpetual Strife Preferred Stock\u2019\u2014expanded to 8.5 million shares from an initially planned 5 million\u2014is expected to generate additional capital for future Bitcoin acquisitions. <\/p>\n<\/div>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/p>\n

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a quick recap of the crypto landscape for Monday (March 24) as of 9:00 a.m. UTC. Bitcoin and Ethereum price update Bitcoin (BTC) is currently trading at US$87,491.91, a 3.4 percent increase over the past 24 hours. The day\u2019s trading range has seen a low of US$84,812.41 and a high of US$88,713.83. Bitcoin\u2019s uptick […]<\/p>\n","protected":false},"author":0,"featured_media":16187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=16186"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/16187"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=16186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=16186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=16186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}