The crypto market witnessed significant volatility following former U.S. President Donald Trump’s announcement of a strategic cryptocurrency reserve plan. The initiative, aimed at positioning the United States as a major player in the digital asset space, led to major shifts in investor sentiment. While some cryptocurrencies benefited from the policy, many saw steep declines due to concerns over regulatory scrutiny, liquidity shifts, and market repositioning.
The biggest losers in the market saw substantial price drops in the 30 days following the announcement. The reasons varied from exclusion from the reserve plan, declining investor confidence, or broader sell-offs in speculative assets. This article takes a closer look at the cryptocurrencies that suffered the most significant declines, examining the factors contributing to their downturn.
Current Price: $2.21
30-Day Decline: 65.13%
24-Hour Trading Volume: $46,377,514
Raydium, a decentralized finance (DeFi) protocol built on the Solana blockchain, experienced the most severe decline among major cryptocurrencies, dropping by over 65% within a month. The token's collapse was largely due to liquidity concerns and a shift in investor interest toward more stable assets. The decline of Solana-based projects has been exacerbated by heightened security concerns and regulatory uncertainty surrounding decentralized exchanges and automated market makers.
Another major factor behind the drop is the declining influence of speculative DeFi projects. While Raydium had been a strong performer in the previous months, it was highly sensitive to macroeconomic shifts, and the Trump administration’s focus on regulatory oversight of decentralized finance likely spooked investors, leading to a mass exodus from the asset.
Current Price: $0.3592
30-Day Decline: 45.99%
24-Hour Trading Volume: $399,600,522
Ethena, a relatively new project in the crypto ecosystem, saw its value plummet by nearly 46%. The exclusion of ENA from the strategic reserve plan meant that it failed to gain the same institutional interest as other tokens. This lack of mainstream recognition led to reduced investor enthusiasm.
Additionally, questions about Ethena’s long-term viability and its ability to compete with well-established blockchain projects have weighed heavily on its performance. Without a strong catalyst to drive interest, the token saw continued sell-offs throughout the month.
Current Price: $0.6347
30-Day Decline: 38.95%
24-Hour Trading Volume: $102,890,563
Jupiter, a platform focused on blockchain interoperability and cross-chain trading, struggled amid the shifting market sentiment. Its 39% price drop highlights the vulnerability of smaller, utility-based tokens when liquidity dries up.
Following the announcement of the reserve plan, investors prioritized established cryptocurrencies over newer projects, which led to a sharp decline in Jupiter’s trading volume. As liquidity providers and institutional investors pulled back from riskier assets, JUP suffered the consequences.
Current Price: $0.7459
30-Day Decline: 37.54%
24-Hour Trading Volume: $76,189,069
Mantle, a blockchain platform focused on scaling solutions, faced a significant downturn as investors moved away from speculative layer-2 projects. The decline was mainly driven by a broader slowdown in the adoption of newer scaling technologies, with established platforms like Ethereum and Solana continuing to dominate market interest.
Despite Mantle’s technical potential, the lack of strong institutional backing and exclusion from the reserve plan meant that traders opted to shift their funds into more liquid and established assets, further pressuring the price.
Current Price: $0.00001241
30-Day Decline: 35.73%
24-Hour Trading Volume: $107,294,113
Bonk, a popular meme coin, was among the hardest hit by the market correction, losing nearly 36% in value. The Trump administration’s emphasis on regulatory frameworks for cryptocurrencies led to a shift away from highly speculative assets like meme coins.
Additionally, retail-driven hype around meme coins saw a sharp drop as investors sought safer alternatives. The speculative nature of Bonk left it vulnerable to rapid declines when sentiment soured.
Current Price: $1.20
30-Day Decline: 34.27%
24-Hour Trading Volume: $102,696,194
Lido DAO, a leading liquid staking solution, was significantly impacted by the changing landscape of institutional crypto investment. The emphasis on regulatory oversight of staking services raised concerns about the sustainability of liquid staking providers.
As investors anticipated increased scrutiny on staking mechanisms, many opted to exit LDO positions, leading to a steep decline in price.
Current Price: $0.05717
30-Day Decline: 32.43%
24-Hour Trading Volume: $529,409,268
Pepe, another meme coin, experienced a significant drop as speculative investments in digital assets declined. The market’s focus on regulatory clarity and structured investments led to reduced enthusiasm for volatile tokens like PEPE.
Meme coins, which often thrive on community-driven hype rather than fundamental value, were among the worst affected by the shift in market sentiment.
Current Price: $0.5803
30-Day Decline: 31.70%
24-Hour Trading Volume: $416,776,408
dogwifhat, another meme-based cryptocurrency, suffered from the same investor sentiment shift that affected Bonk and Pepe. The lack of utility and increasing regulatory concerns led to a decline in retail investment.
As traders pivoted towards fundamentally strong assets, WIF struggled to maintain its previous valuation.
Current Price: $17.25
30-Day Decline: 31.41%
24-Hour Trading Volume: $154,317,893
Hyperliquid, a project focused on liquidity solutions for decentralized exchanges, saw its token price decrease by over 31%. The decline in demand for decentralized trading platforms following the strategic reserve announcement led to lower trading volumes, which in turn impacted HYPE’s price.
Current Price: $149.00
30-Day Decline: 31.08%
24-Hour Trading Volume: $4,483,206,591
Solana, despite being included in the strategic reserve, faced a notable 31% decline in value. The initial excitement over its inclusion led to a price surge, but profit-taking and concerns over liquidity migration resulted in a correction.
Furthermore, Solana’s ecosystem, which includes many of the other losing tokens like Raydium and Bonk, was hit hard by broader market concerns. This network-wide impact contributed to SOL's underperformance.
The crypto market faced significant turbulence following Trump's reserve plan, leading to sharp declines in several assets. Meme coins and speculative DeFi projects were hit the hardest, as investors sought stability in the face of regulatory uncertainty. The focus on institutional-grade assets left many smaller cryptocurrencies struggling to maintain their previous valuations.
While the long-term impact of the reserve plan remains to be seen, the immediate effect was a flight to safety, with investors moving away from riskier tokens. The coming months will be crucial in determining whether these assets can recover or if the crypto market will see a prolonged shift towards more regulated and institutional-friendly investments.