The cryptocurrency market experienced a significant surge after President Donald Trump announced plans to include several major cryptocurrencies in a U.S. strategic reserve, sending some tokens skyrocketing while experts remain cautiously optimistic about long-term implications.

President Trump’s unexpected announcement on Truth Social that Cardano (ADA), Solana (SOL), and Ripple (XRP) would be included in a national strategic crypto reserve triggered an immediate market reaction, with ADA climbing as much as 60% and XRP jumping 25% on Sunday. Trump later expanded the list to include Bitcoin and Ethereum, further fueling market enthusiasm.

The broader crypto market responded positively to the news, with Bitcoin climbing 6.5% to over $93,000 on Monday while the CoinDesk 20 index rose 7%. Other tokens associated with the Trump family-backed World Liberty Financial, including Chainlink’s LINK, Uniswap’s UNI, and Movement’s MOVE, also saw gains of around 8% in the 24 hours following the announcement.

Despite the market’s enthusiastic response, industry analysts are maintaining a measured outlook until more concrete details emerge about the proposed reserve.

“The current upward momentum might see a correction in the short term, as investors price in the crypto reserve announcement and determine the legal viability for Trump to create the reserve,” Kevin Guo, director of HashKey Research, told CoinDesk. “Federal Reserve Chairman Jerome Powell previously stated that the US central bank is not allowed to hold a reserve of Bitcoin, so there are still technical hurdles in front of Trump’s plans.”

The cryptocurrency community is eagerly anticipating the first-ever White House Crypto Summit scheduled for March 7, where President Trump is expected to provide more details about the strategic reserve and outline his administration’s approach to crypto regulations and business support.

Chris Yu, CEO of SignalPlus, shared similar sentiments about the market outlook: “We expect more volatility until further details can solidify the creation of the strategy reserve, but the crypto market sentiment has swiftly changed, signaling a potential continuation of the bull market.”

Yu suggested that investors will be closely monitoring inflows to U.S.-traded ETF products in the coming week after they experienced record outflows last week. An increase in these inflows could potentially indicate that the market has reached a bottom and signal continued bullish momentum.

The announcement marks a significant shift in the U.S. government’s approach to cryptocurrencies, potentially positioning them as strategic assets alongside traditional reserves like gold and oil. However, questions remain about the legal framework for such a reserve and how it would operate within existing financial regulations.

As the crypto market digests this news, traders and investors are balancing excitement over governmental recognition with a wait-and-see approach until the White House Crypto Summit provides more clarity on implementation details and timelines.