BTC
$93,868.53
+
10.02%
ETH
$2,495.02
+
13.06%
XRP
$2.8476
+
32.02%
USDT
$1.0005
+
0.03%
BNB
$629.23
+
4.23%
SOL
$168.80
+
20.50%
USDC
$1.0003
–
0.03%
ADA
$1.0238
+
61.37%
DOGE
$0.2297
+
13.04%
TRX
$0.2451
+
6.22%
WBTC
$93,765.99
+
10.13%
LINK
$17.09
+
15.99%
HBAR
$0.2603
+
9.35%
XLM
$0.3471
+
15.80%
AVAX
$24.63
+
14.49%
SUI
$3.1754
+
12.66%
LTC
$127.49
+
2.47%
LEO
$9.8025
+
0.49%
SHIB
$0.0₄1497
+
10.11%
TON
$3.4837
+
6.53%
Tokens traded at a notable premium on Coinbase relative to Binance after Trump announced strategic crypto reserve.
By Omkar Godbole|Edited by Aoyon Ashraf
Mar 2, 2025, 6:21 p.m. UTC
What to know:
- XRP, SOL, and ADA traded at a substantial premium on the Nasdaq-listed Coinbase exchange, indicating high U.S. demand following Trump’s crypto reserve announcement.
- The Coinbase premium for the tokens reached its highest level since Feb. 3, with BTC and ETH also trading at slightly higher prices on Coinbase than Binance.
U.S. President Donald Trump on Sunday said that bitcoin (BTC), ether (ETH), XRP, solana (SOL) and cardano (ADA) could comprise the promised strategic crypto reserve, sparking a sharp rally in these tokens’ prices.
The spot-led rally saw these tokens trade at a substantial premium on the Nasdaq-listed Coinbase exchange, a proxy for the U.S. demand, compared to the offshore giant Binance, according to data source TradingView.
STORY CONTINUES BELOW
The so-called Coinbase premium for XRP, SOL, and ADA surged to the highest level since Feb. 3. BTC and ETH traded at slightly higher prices on Coinbase than Binance.
Since early last year, Coinbase premium has been a feature of price rallies, validating the bull runs.
Read more: Bitcoin Jumps Above $91K After Trump’s U.S. Crypto Reserve News Brings Bulls Back
Omkar Godbole is a Co-Managing Editor on CoinDesk’s Markets team based in Mumbai, holds a masters degree in Finance and a Chartered Market Technician (CMT) member. Omkar previously worked at FXStreet, writing research on currency markets and as fundamental analyst at currency and commodities desk at Mumbai-based brokerage houses. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
