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

Bitcoin has deed caller all-time highs arsenic President-elect Donald Trump secured triumph successful the 2024 United States statesmanlike election.

Set to instrumentality to the White House aft departing successful January 2021, Trump present appears to beryllium bringing a pro-crypto stance with him. His run made respective pledges successful enactment of the cryptocurrency sector, marking a quality with the erstwhile administration.

As Trump prepares to resume office, Cointelegraph looks backmost connected however the cryptocurrency scenery appeared during his past term. The manufacture has seen large shifts since past — fractional of the apical 10 coins from his erstwhile word person fallen retired of the rankings.

Here’s a look astatine however the apical 10 cryptocurrencies from Trump’s past presidency are faring today.

Bitcoin

Since Trump’s past White House stint, Bitcoin has gone done much twists than the president-elect’s path to predetermination victory. First, determination was an all-time high of astir $67,000 successful November 2021. Then came FTX — the seismic clang of November 2022 that took Bitcoin down to $17,000 and near everyone wondering if the thrust was over

Fast guardant done a carnivore marketplace for some Bitcoin (BTC) and the planetary economy, with BTC dragging its feet done astir of it. 

Still, similar immoderate bully comeback story, Bitcoin rebounded successful 2024 arsenic it became accessible to institutions connected the US banal marketplace done those shiny caller spot exchange-traded funds (ETFs). 

With analysts’ eyes glued to the $100,000 mark arsenic Trump’s triumph signals the beginning of the extremity for crypto’s supervillain, Gary Gensler astatine the Securities and Exchange Commission (SEC), the plus has already smashed past the $82,000 mark.

In addition, Bitcoin present hosts digital trinkets similar Ordinals (an iteration of non-fungible tokens) and immoderate of the internet’s favorite memecoins done Runes. So portion Bitcoin remains the gold-standard crypto successful the property of Trump 2.0, it’s besides recovered immoderate caller ways to support itself absorbing on the way.

From undisputed king to layer-2 laboratory rat

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

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

Ether (ETH) was the undisputed monarch of astute contracts, reigning implicit a kingdom of decentralized applications. Now the crown isn’t rather arsenic unafraid and the web has immoderate superior competition.

Solana, the fast, flashy upstart is present ranked 4th by marketplace cap, taking the pb among the “Ethereum killer” blockchains. 

Ethereum, however, has chosen a antithetic way to enactment relevant. Rather than battling it retired for earthy speed, it opted to grow with layer-2 solutions. This has helped easiness the infamous congestion and sky-high fees, but there’s a cost. 

These layer-2 networks person drained liquidity and fragmented Ethereum’s ecosystem, transforming its once-unified realm into a sprawling postulation of mini-kingdoms.

In its quest to evolve, Ethereum besides went greenish with The Merge successful September 2022, swapping retired proof-of-work for a much eco-friendly proof-of-stake statement mechanism. 

The upgrade slashed Ethereum’s vigor usage by 99% and acceptable the signifier for aboriginal scalability tweaks similar sharding. The crypto satellite applauded, and it was a large measurement for Ethereum’s sustainability, though it didn’t travel with the explosive terms surge immoderate investors anticipated.

And portion Bitcoin has been engaged breaking records, Ethereum was left successful the dust contempt listing spot ETFs of its own. For now, Ethereum is inactive hanging connected to its No. 2 spot, but simply being a bequest marque mightiness not beryllium capable to support the crown.

Ignoring the haters

In the aftermath of the Terra-Luna collapse—an implosion that rattled religion successful algorithmic stablecoins everywhere—Tether’s USDT has not lone weathered the tempest but emerged stronger than ever. Now the third-largest cryptocurrency by marketplace cap, USDT’s valuation has ballooned to astir $120 billion.

Despite raking successful a nett net of $2.5 cardinal successful the 3rd quarter, bringing 2024’s full to $7.7 billion, the institution inactive hasn’t undergone a full, broad audit. Instead, Tether provides regular attestations.

Related: Tether posts $2.5B successful Q3 profits, with 2024 net reaching $7.7B

So, what’s driving this nett parade? US Treasury Bills, mostly. Tether’s reserves present assertion a comfy $6 cardinal buffer, with $102.5 cardinal successful Treasury Bills, making Uncle Sam’s indebtedness Tether’s aureate goose.

But with large profits travel large questions. Without a formal audit, galore are near wondering if Tether’s vaults are arsenic coagulated arsenic they claim. Tether whitethorn beryllium the titan, but spot is inactive the currency that matters most.

From contender to rebuilder

Polkadot terms Jan. 20, 2021: $15.94

Polkadot terms Nov. 11, 2024: $5.13

Back successful Trump’s past term, Polkadot (DOT) was riding high. With a marketplace worth of $17 per token and the 4th spot successful the crypto rankings, it looked poised to go the span crossed blockchain ecosystems, promising a aboriginal of seamless crosschain communication. In 2024, though, Polkadot’s radiance has dulled — a $4.10 terms tag and a driblet to the 21st spot by marketplace cap.

Polkadot is nary longer a apical 10 crypto. Source: Logan Saether

Still, Polkadot is not waving a achromatic flag. This year, it rolled retired Agile Coretime, a caller strategy letting developers bargain processing clip straight connected its halfway layer. It’s portion of the Polkadot 2.0 upgrade, a large pivot from the aged auction model. 

With the instauration of “inscriptions” — a playful motion to Bitcoin’s Ordinals — Polkadot smashed transaction records successful December 2023, clocking successful implicit 17 cardinal transactions. 

Still, Polkadot’s got a pugnacious assemblage to impress. Ethereum and Solana person cemented themselves arsenic powerhouses successful decentralized concern (DeFi), with different precocious chains nipping astatine their heels.

Clear skies up for XRP

XRP terms Jan. 20, 2021: $0.285924

XRP terms Nov. 11, 2024: $0.581592

XRP held the 5th spot successful crypto rankings successful January 2021. It has dropped a spot to seventh, but maturation has been mostly positive. Its terms has jumped from $0.2958 to $0.5355, and its marketplace headdress has much than doubled to a chill $30.5 billion. Not atrocious for a cryptocurrency that’s been done a ineligible saga aggravated capable for a courtroom play series.

Ripple Labs, the San Francisco institution that developed exertion astir the XRP Ledger and advocates for its usage successful cross-border transactions, scored a partial triumph successful tribunal successful 2023. 

After years of back-and-forth, the justice ruled that portion immoderate backstage income of XRP did transverse into unregistered securities territory, XRP itself doesn’t suffice arsenic a security. It’s a half-victory for Ripple and a afloat game-changer for the XRP ecosystem, which has agelong operated nether a regulatory cloud.

Related: SEC’s Ripple entreaty doesn’t situation XRP non-security status

Now, with ineligible uncertainty clearing up, XRP is adjacent being discussed arsenic a candidate for an ETF — alongside up-and-comers similar Solana. An XRP ETF could unfastened doors to a much mainstream audience, sparking caller excitement among investors who’ve weathered the ups and downs. So, portion XRP mightiness person slipped a mates of notches successful the rankings, its resilience, dependable maturation and newfound ineligible clarity hint astatine the commencement of an improbable comeback. 

The ’90s set of crypto warring for a comeback

ADA terms Jan. 20, 2021: $0.358738

ADA terms Nov. 11, 2024: $0.592937

Back successful the past predetermination cycle, Cardano (ADA) was cruising comfortably successful the apical 10, with a estimation arsenic an “Ethereum killer” and its roots tracing backmost to an Ethereum co-founder. Today, Cardano is simply a spot similar that set from the ’90s that’s inactive hanging astir the charts, occasionally slipping successful and retired of the apical 10. 

Critics emotion to telephone it a “ghost chain,” claiming there’s not overmuch gathering going connected and adjacent less users to amusement up. And the numbers bash rise an eyebrow: Cardano’s halfway developer and progressive idiosyncratic number person dropped.

Cardano’s codification commits and halfway developer number drops. Source: Token Terminal

Yet Cardano isn’t sitting backmost and letting the doubters person their say. The Chang hard fork, completed successful September 2024, ushered successful caller features and scalability upgrades, signaling it’s inactive got immoderate tricks up its sleeve. The web has besides entered the Voltaire phase, aiming for a decentralized governance exemplary wherever users tin enactment straight successful decision-making.

Litecoin and Bitcoin Cash: The archetypal rebels warring for relevance

Litecoin terms Jan. 20, 2021: $149.80

Litecoin terms Nov. 11, 2024: $77.38

Bitcoin Cash terms Jan. 20, 2021: $501.72

Bitcoin Cash terms Nov. 11, 2021: $438.73

In the aboriginal days of crypto, Litecoin (LTC) and Bitcoin Cash (BCH) were the champions of “spendable” cryptocurrency — 2 coins vying to beryllium integer currency for mundane use. 

Litecoin, the “lite” mentation of Bitcoin, offered faster transactions and little fees, portion Bitcoin Cash divided disconnected from Bitcoin with a bold promise: to fulfill the archetypal peer-to-peer currency imaginativeness of Satoshi Nakamoto by boosting artifact sizes and reducing fees. 

Both coins gained loyal followings and adjacent immoderate merchants, but their paths consciousness much similar nostalgia trips than the gyration they aimed to spark.

In a satellite wherever Bitcoin has solidified itself arsenic “digital gold” and newer cryptos connection precocious features similar astute contracts and decentralized applications, Litecoin and Bitcoin Cash conflict to basal out. 

Countries banning crypto payments and regulatory reddish portion haven’t helped, either. While immoderate tiny pockets of adoption persist — deliberation cafes successful Townsville, Ljubljana, and parts of Buenos Aires — the wide usage lawsuit for mundane transactions hasn’t materialized.

Litecoin and Bitcoin Cash person some dropped retired of the apical 10 cryptocurrencies by marketplace cap, sitting astatine the 25th and 19th spots respectively.

Behind the scenes of DeFi

LINK terms Jan. 20, 2021: $20.51

LINK terms Nov. 11, 2024: $13.99

Chainlink (LINK) isn’t present to beryllium “digital cash” oregon a “smart declaration superstar,” but alternatively the backbone of the crypto world, softly holding the DeFi beingness together. 

While different cryptocurrencies pursuit headlines and retail hype, Chainlink is hard astatine enactment feeding terms data, upwind forecasts and different real-world accusation to blockchains that request them. Since Trump’s past term, Chainlink’s relation arsenic the go-to oracle work has lone solidified, making it the eventual backstage leader of decentralized finance.

The caller rollout of Chainlink 2.0 added adjacent much musculus to its oracle network. This upgrade introduced decentralized oracle networks, enabling dynamic non-fungible tokens, automated blockchain functions and each kinds of caller DeFi magic. 

With staking yet available, LINK holders tin present unafraid the web and gain rewards — a long-awaited perk that gives a boost to this data-driven ecosystem. Chainlink is present amended equipped for analyzable tasks, proving that it’s not conscionable reliable but versatile too.

LINK’s terms hasn’t enjoyed the aforesaid dependable emergence arsenic its reputation. The token has been buffeted by volatility and competition. New oracle providers person entered the scene, and immoderate DeFi projects are gathering their ain oracles. 

Not truthful stellar

XLM terms Jan. 20, 2021: $0.291680

XLM terms Nov. 11, 2024: $0.109166

Launched by Ripple co-founder Jed McCaleb successful 2014, Stellar acceptable retired to connection quick, low-cost planetary transactions, connecting everyone from fiscal institutions to the unbanked. 

Since Trump’s past term, Stellar has made strides successful the cardinal slope integer currency (CBDC) arena, peculiarly with its aviator task successful Ukraine to trial a digital mentation of the hryvnia. 

Magazine: Real beingness output farming: How tokenization is transforming lives successful Africa

But Stellar’s travel hasn’t been all, well, stellar. The contention successful cross-border payments has lone ramped up. Governments exploring CBDCs often look toward centralized solutions oregon established platforms similar Ethereum. 

Stellar’s XLM token has suffered arsenic the marketplace progressively tilts toward DeFi-focused chains with high-profile usage cases. It’s dropped from the 10th spot to the 35th spot, arsenic of Nov. 8, 2024.