What happened to the top 10 cryptos from when Trump was last president?

Bitcoin has hit new all-time highs as President-elect Donald Trump secured victory in the 2024 United States presidential election.

Set to return to the White House after departing in January 2021, Trump now seems to be bringing a pro-crypto stance with him. His marketing campaign made a number of pledges in assist of the cryptocurrency sector, marking a distinction with the earlier administration.

As Trump prepares to resume workplace, Cointelegraph seems again on how the cryptocurrency panorama appeared throughout his last time period. The trade has seen main shifts since then — half of the top 10 cash from his earlier time period have fallen out of the rankings.

Here’s a have a look at how the top 10 cryptocurrencies from Trump’s last presidency are faring immediately.

Bitcoin

Bitcoin value Jan. 20, 2021: $35,302.18

Bitcoin value Nov. 11, 2024: $82,379.60

Since Trump’s last White House stint, Bitcoin has gone by means of extra twists than the president-elect’s path to election victory. First, there was an all-time excessive of about $67,000 in November 2021. Then got here FTX — the seismic crash of November 2022 that took Bitcoin down to $17,000 and left everybody questioning if the experience was over

Fast ahead by means of a bear marketplace for each Bitcoin (BTC) and the world financial system, with BTC dragging its toes by means of most of it. 

Still, like every good comeback story, Bitcoin rebounded in 2024 because it grew to become accessible to establishments on the US inventory market by means of these shiny new spot exchange-traded funds (ETFs). 

With analysts’ eyes glued to the $100,000 mark as Trump’s victory indicators the starting of the finish for crypto’s supervillain, Gary Gensler at the Securities and Exchange Commission (SEC), the asset has already smashed previous the $82,000 mark.

In addition, Bitcoin now hosts digital trinkets like Ordinals (an iteration of non-fungible tokens) and a few of the web’s favourite memecoins by means of Runes. So whereas Bitcoin stays the gold-standard crypto in the age of Trump 2.0, it’s additionally discovered some new methods to hold itself fascinating alongside the approach.

From undisputed king to layer-2 lab rat

Ether value Jan. 20, 2021: $1,361.05

Ether value Nov. 11, 2024: $3,175.47

Ether (ETH) was the undisputed monarch of good contracts, reigning over a kingdom of decentralized purposes. Now the crown isn’t fairly as safe and the community has some severe competitors.

Solana, the quick, flashy upstart is now ranked fourth by market cap, taking the lead amongst the “Ethereum killer” blockchains. 

Ethereum, nevertheless, has chosen a special route to keep related. Rather than battling it out for uncooked velocity, it opted to broaden with layer-2 options. This has helped ease the notorious congestion and sky-high charges, however there’s a price. 

These layer-2 networks have drained liquidity and fragmented Ethereum’s ecosystem, reworking its once-unified realm right into a sprawling assortment of mini-kingdoms.

In its quest to evolve, Ethereum additionally went inexperienced with The Merge in September 2022, swapping out proof-of-work for a extra eco-friendly proof-of-stake consensus mechanism. 

The improve slashed Ethereum’s power use by 99% and set the stage for future scalability tweaks like sharding. The crypto world applauded, and it was an enormous step for Ethereum’s sustainability, although it didn’t include the explosive value surge some buyers anticipated.

And whereas Bitcoin has been busy breaking information, Ethereum was left in the mud regardless of itemizing spot ETFs of its personal. For now, Ethereum continues to be hanging on to its No. 2 spot, however merely being a legacy model may not be sufficient to hold the crown.

Ignoring the haters

In the wake of the Terra-Luna collapse—an implosion that rattled religion in algorithmic stablecoins in all places—Tether’s USDT has not solely weathered the storm however emerged stronger than ever. Now the third-largest cryptocurrency by market cap, USDT’s valuation has ballooned to about $120 billion.

Despite raking in a internet revenue of $2.5 billion in the third quarter, bringing 2024’s whole to $7.7 billion, the firm nonetheless hasn’t undergone a full, complete audit. Instead, Tether supplies common attestations.

Related: Tether posts $2.5B in Q3 income, with 2024 earnings reaching $7.7B

So, what’s driving this revenue parade? US Treasury Bills, largely. Tether’s reserves now declare a cushty $6 billion buffer, with $102.5 billion in Treasury Bills, making Uncle Sam’s debt Tether’s golden goose.

But with nice income come nice questions. Without a proper audit, many are left questioning if Tether’s vaults are as strong as they declare. Tether could also be the titan, however belief continues to be the foreign money that issues most.

From contender to rebuilder

Polkadot value Jan. 20, 2021: $15.94

Polkadot value Nov. 11, 2024: $5.13

Back in Trump’s last time period, Polkadot (DOT) was using excessive. With a market worth of $17 per token and the fourth spot in the crypto rankings, it appeared poised to turn out to be the bridge throughout blockchain ecosystems, promising a way forward for seamless crosschain communication. In 2024, although, Polkadot’s shine has dulled — a $4.10 price ticket and a drop to the twenty first spot by market cap.

Still, Polkadot just isn’t waving a white flag. This yr, it rolled out Agile Coretime, a brand new system letting builders purchase processing time straight on its core layer. It’s a part of the Polkadot 2.0 improve, a significant pivot from the outdated public sale mannequin. 

With the introduction of “inscriptions” — a playful nod to Bitcoin’s Ordinals — Polkadot smashed transaction information in December 2023, clocking in over 17 million transactions. 

Still, Polkadot’s bought a tricky crowd to impress. Ethereum and Solana have cemented themselves as powerhouses in decentralized finance (DeFi), with different superior chains nipping at their heels.

Clear skies forward for XRP

XRP value Jan. 20, 2021: $0.285924

XRP value Nov. 11, 2024: $0.581592

XRP held the fifth spot in crypto rankings in January 2021. It has dropped a bit to seventh, however progress has been largely optimistic. Its value has jumped from $0.2958 to $0.5355, and its market cap has greater than doubled to a cool $30.5 billion. Not unhealthy for a cryptocurrency that’s been by means of a authorized saga intense sufficient for a courtroom drama collection.

Ripple Labs, the San Francisco firm that developed know-how round the XRP Ledger and advocates for its use in cross-border transactions, scored a partial win in court docket in 2023. 

After years of back-and-forth, the decide dominated that whereas some personal gross sales of XRP did cross into unregistered securities territory, XRP itself doesn’t qualify as a safety. It’s a half-victory for Ripple and a full game-changer for the XRP ecosystem, which has lengthy operated below a regulatory cloud.

Related: SEC’s Ripple enchantment doesn’t problem XRP non-security standing

Now, with authorized uncertainty clearing up, XRP is even being mentioned as a candidate for an ETF — alongside up-and-comers like Solana. An XRP ETF might open doorways to a extra mainstream viewers, sparking recent pleasure amongst buyers who’ve weathered the ups and downs. So, whereas XRP may need slipped a few notches in the rankings, its resilience, regular progress and newfound authorized readability trace at the begin of an unlikely comeback. 

The ’90s band of crypto combating for a comeback

ADA value Jan. 20, 2021: $0.358738

ADA value Nov. 11, 2024: $0.592937

Back in the last election cycle, Cardano (ADA) was cruising comfortably in the top 10, with a popularity as an “Ethereum killer” and its roots tracing again to an Ethereum co-founder. Today, Cardano is a bit like that band from the ’90s that’s nonetheless hanging round the charts, sometimes slipping out and in of the top 10. 

Critics love to name it a “ghost chain,” claiming there’s not a lot constructing occurring and even fewer customers to present up. And the numbers do increase an eyebrow: Cardano’s core developer and lively consumer rely have dropped.

Yet Cardano isn’t sitting again and letting the doubters have their say. The Chang onerous fork, accomplished in September 2024, ushered in recent options and scalability upgrades, signaling it’s nonetheless bought some methods up its sleeve. The community has additionally entered the Voltaire section, aiming for a decentralized governance mannequin the place customers can take part straight in decision-making.

Litecoin and Bitcoin Cash: The authentic rebels combating for relevance

Litecoin value Jan. 20, 2021: $149.80

Litecoin value Nov. 11, 2024: $77.38

Bitcoin Cash value Jan. 20, 2021: $501.72

Bitcoin Cash value Nov. 11, 2021: $438.73

In the early days of crypto, Litecoin (LTC) and Bitcoin Cash (BCH) had been the champions of “spendable” cryptocurrency — two cash vying to be digital money for on a regular basis use. 

Litecoin, the “lite” model of Bitcoin, supplied quicker transactions and decrease charges, whereas Bitcoin Cash break up off from Bitcoin with a daring promise: to fulfill the authentic peer-to-peer money imaginative and prescient of Satoshi Nakamoto by boosting block sizes and lowering charges. 

Both cash gained loyal followings and even some retailers, however their paths really feel extra like nostalgia journeys than the revolution they aimed to spark.

In a world the place Bitcoin has solidified itself as “digital gold” and newer cryptos supply superior options like good contracts and decentralized purposes, Litecoin and Bitcoin Cash wrestle to stand out. 

Countries banning crypto funds and regulatory crimson tape haven’t helped, both. While some small pockets of adoption persist — assume cafes in Townsville, Ljubljana, and components of Buenos Aires — the broad use case for on a regular basis transactions hasn’t materialized.

Litecoin and Bitcoin Cash have each dropped out of the top 10 cryptocurrencies by market cap, sitting at the twenty fifth and nineteenth spots respectively.

Behind the scenes of DeFi

LINK value Jan. 20, 2021: $20.51

LINK value Nov. 11, 2024: $13.99

Chainlink (LINK) isn’t right here to be “digital cash” or a “smart contract superstar,” however relatively the spine of the crypto world, quietly holding the DeFi universe collectively. 

While different cryptocurrencies chase headlines and retail hype, Chainlink is difficult at work feeding value knowledge, climate forecasts and different real-world info to blockchains that want them. Since Trump’s last time period, Chainlink’s position as the go-to oracle service has solely solidified, making it the final backstage hero of decentralized finance.

The latest rollout of Chainlink 2.0 added much more muscle to its oracle community. This improve launched decentralized oracle networks, enabling dynamic non-fungible tokens, automated blockchain capabilities and every kind of latest DeFi magic. 

With staking lastly accessible, LINK holders can now safe the community and earn rewards — a long-awaited perk that provides a lift to this data-driven ecosystem. Chainlink is now higher geared up for complicated duties, proving that it’s not simply dependable however versatile too.

LINK’s value hasn’t loved the identical regular rise as its popularity. The token has been buffeted by volatility and competitors. New oracle suppliers have entered the scene, and a few DeFi tasks are constructing their very own oracles. 

Not so stellar

XLM value Jan. 20, 2021: $0.291680

XLM value Nov. 11, 2024: $0.109166

Launched by Ripple co-founder Jed McCaleb in 2014, Stellar set out to supply fast, low-cost worldwide transactions, connecting everybody from monetary establishments to the unbanked. 

Since Trump’s last time period, Stellar has made strides in the central financial institution digital foreign money (CBDC) area, notably with its pilot challenge in Ukraine to check a digital model of the hryvnia. 

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But Stellar’s journey hasn’t been all, effectively, stellar. The competitors in cross-border funds has solely ramped up. Governments exploring CBDCs typically look towards centralized options or established platforms like Ethereum. 

Stellar’s XLM token has suffered as the market more and more tilts towards DeFi-focused chains with high-profile use circumstances. It’s dropped from the tenth spot to the thirty fifth spot, as of Nov. 8, 2024.