Crypto Market Recap: White House Pushes GENIUS Act, $TRUMP Token Surges Past US$12 Before Sell-Off

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’s trading range has seen a low of US$84,812.41 and a high of US$88,713.83.

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

Ethereum (ETH) 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.

Altcoin price update

Solana (SOL) 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.

XRP 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.

Sui (SUI) 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.

Cardano (ADA) 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.

Crypto news to know

White House pushes Congress to fast-track GENIUS Act

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 Trumpâ€s desk within two months.

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.

If the legislation garners strong bipartisan backing—potentially reaching 70 votes—lawmakers may bypass reconciliation with the Houseâ€s competing STABLE Act and push it through as-is.

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.

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 versionâ€s swift passage to avoid further delays.

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.

Trumpâ€s Truth Social Post Sends $TRUMP Memecoin Soaring Before Rapid Pullback

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.

“I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!� wrote the president, fueling a dramatic rise in trading activity.

Following the post, the Solana-based memecoinâ€s 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.

The surge, however, was short-lived—$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.

The endorsement follows Trumpâ€s recent virtual speech at Blockworks†Digital Assets Summit, where he discussed the importance of stablecoin regulations, the strategic role of Bitcoin reserves, and concerns over crypto debanking.

Michael Saylorâ€s Strategy expands holdings to 506,000 BTC with latest US$584M purchase

Michael Saylorâ€s 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.

This latest purchase, valued at approximately US$584 million, brings the companyâ€s total holdings to a staggering 506,000 BTC—worth roughly US$44.4 billion at current market prices.

According to an SEC filing, the acquisition was financed through Strategyâ€s “Common ATMâ€� and “STRK ATMâ€� 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.

This funding strategy allows Strategy to continue accumulating Bitcoin without diluting the voting power of common shareholders.

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 companyâ€s latest offering of ‘Series A Perpetual Strife Preferred Stockâ€â€”expanded to 8.5 million shares from an initially planned 5 million—is expected to generate additional capital for future Bitcoin acquisitions.