Asian cryptocurrency-related stocks soared across regional markets, propelled by a Trump-driven rally that began over the weekend. By Monday’s Asian trading session at 11:00 AM JST (6:00 PM PST March 2), Japan-listed Monex Group, owner of the Coincheck exchange, jumped 15.49%—its largest single-day gain since July 2024—while SBI Holdings, a Ripple partner, rose 8.31%. South Korea’s Hanwha Investment & Securities climbed 6.7% on the KOSPI, and Singapore’s OSL Group gained 5.9%,
coincided with a $329 billion crypto market cap increase over 48 hours, per CoinGecko, as Bitcoin (BTC) hit $94,164 and altcoins like Cardano (ADA), Solana (SOL), and XRP posted gains of 64%, 25%, and 25%, respectively.
The catalyst? U.S. President Donald Trump’s March 2 Truth Social posts, where he unveiled a U.S. strategic crypto reserve featuring BTC, Ethereum (ETH), XRP, SOL, and ADA. “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration,” he wrote, promising to make America the “Crypto Capital of the World.” A follow-up post cemented BTC and ETH as the “heart” of the plan, lifting markets overnight. By 4:39 AM PST Monday, BTC traded at $94,164 (up 11%), ADA at $0.84 (up 64% from $0.51), SOL at $159 (up 25% from $136), and XRP at $2.71 (up 25% from $2.17), per CoinMarketCap, with 24-hour volume surging 146.6% to $65.6 billion.
Asia’s crypto stocks mirrored this fervor. Monex Group’s 15.49% leap tracked BTC’s rally, given Coincheck’s role as Japan’s second-largest exchange by volume, per The Block. SBI Holdings’ 8.31% gain tied to XRP’s surge, fueled by Ripple’s regional partnerships. South Korea’s Hanwha, with blockchain exposure, and Singapore’s OSL, a licensed digital asset platform, reflected broader sentiment. Posts on X captured the buzz: “Trump’s reserve hit Asia’s morning trade—Monex and SBI are mooning,” one user noted at 1:13 AM PST. Another added, “Asian crypto stocks are the Trump trade’s next leg—new highs ahead?”
Trump’s shift from crypto critic—he once labeled BTC a “scam” in 2021—to advocate traces to his 2024 campaign, where he pitched deregulation and a national Bitcoin stockpile at Bitcoin 2024 in Nashville. His January 23 executive order, “Strengthening American Leadership in Digital Financial Technology,” tasked a working group with exploring a reserve, potentially using $19 billion in seized BTC, per Forbes. The March 2 altcoin nod—ADA, SOL, XRP—widened the scope, boosting Asian firms with exposure. Monex’s Coincheck trades SOL and XRP; SBI’s Ripple ties run deep; Hanwha taps South Korea’s $1.4 trillion crypto savings pool, per local data.
Regional factors turbocharged the rally. Japan’s crypto-friendly pivot under Prime Minister Shigeru Ishiba, who reformed digital asset taxes in 2024, primed Monex and SBI. South Korea, a $34 billion daily trading hub during December 2024’s martial law scare, per CoinMarketCap, saw Upbit move 25 million XRP ($65.25M) off-exchange on March 3, per Whale Alert, hinting at whale bets. Singapore’s OSL thrives in a 200-firm crypto sandbox, per Reuters. The Block noted Asia’s early trading hours synced perfectly with Trump’s late-U.S. announcement, amplifying stock gains as BTC broke $94,000 by 11:00 AM JST.
But cracks show. February’s 17% BTC drop from $105,000, per Bloomberg, and a $3.3 billion Bitcoin ETF outflow signal volatility’s bite. By 3:59 AM PST, ADA eased to $0.84, SOL to $159, XRP to $2.71—profit-taking evident. RSI readings (ADA 68, SOL 64, XRP 62) near overbought, per my charts, suggest a pause. Trump’s reserve needs Congressional nod—Lummis’ 1-million-BTC bill stalls, per PBS News. Tariffs—25% on Canada and Mexico, per Reuters—could spur inflation, nudging Fed rates up and pressuring crypto, per Euronews.
Risks loom larger. A $1.5 billion Bybit hack last week, per Crypto Briefing, and Nigeria’s $81.5 billion Binance suit, per Finance Magnates, rattle trust. If the March 7 White House Crypto Summit flops, this rally could unravel. Japan’s Monex faces $150 resistance, SBI $20; Hanwha and OSL lack the volume to sustain double-digit runs. Yet, Asia’s agility—SBI’s Ripple play, South Korea’s 90.96% stablecoin dominance in $172.94 billion volume—offers ballast.
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