What has become of the top 10 cryptocurrencies since Trump’s presidency?

As President-elect Donald Trump prepares to return to office, the cryptocurrency market is buzzing with excitement. Trump’s new pro-crypto stance has investors curious about the future of digital assets under his administration. Let’s take a look back at how the top 10 cryptocurrencies were performing during Trump’s last presidency.

Bitcoin, the king of cryptocurrencies, has seen a rollercoaster ride of price fluctuations since Trump’s last term. From hitting an all-time high of around $67,000 in November 2021 to a low of $17,000 in the FTX crash of November 2022, Bitcoin has certainly kept investors on their toes. However, with the introduction of spot ETFs and institutional interest, Bitcoin has rebounded and is currently trading at over $82,000, inching closer to the coveted $100,000 mark.

Ethereum, known for its smart contract capabilities, has faced tough competition from up-and-coming blockchains like Solana. To stay relevant, Ethereum has embraced layer-2 solutions and environmentally friendly upgrades like The Merge. Despite listing spot ETFs, Ethereum has struggled to keep up with Bitcoin’s record-breaking performance, but it still holds the number two spot in the market.

Tether’s USDT stablecoin has emerged as a powerhouse in the market, with a valuation of about $120 billion. Despite the lack of a full audit, Tether has continued to rake in profits, mostly driven by its reserves in US Treasury Bills. While questions about Tether’s financial stability linger, the stablecoin remains a top contender in the crypto space.

Polkadot, once a top 10 cryptocurrency, has slipped in rankings but is not giving up. With its Agile Coretime upgrade and innovative features like “inscriptions,” Polkadot is aiming to impress developers and regain its position as a leading blockchain ecosystem. Despite facing stiff competition from Ethereum and Solana, Polkadot is staying in the game with its unique offerings.

XRP, the cryptocurrency developed by Ripple Labs, has seen positive growth despite legal challenges. With its price doubling and market cap reaching $30.5 billion, XRP has weathered the storm of regulatory uncertainties. A court ruling in 2023 deemed XRP not to be a security, providing a glimmer of hope for the XRP ecosystem and its supporters.

As we look forward to Trump’s second term in office, the cryptocurrency market is poised for more excitement and opportunities. Stay tuned for updates on how the top 10 cryptos continue to evolve in the ever-changing world of digital assets.