Originally published on: November 11, 2024
In a surprising turn of events, Bitcoin recently soared to new heights as Donald Trump secured victory in the 2024 US presidential election. With the former president’s pro-crypto stance making headlines, the cryptocurrency landscape is undergoing significant changes.
As Trump gears up to return to the White House, it’s worth taking a trip down memory lane to see how the top 10 cryptocurrencies from his last term are faring today.
Bitcoin, the undisputed king of cryptocurrencies, has seen its price skyrocket from $35,302.18 in January 2021 to $82,379.60 in November 2024. Despite facing numerous challenges, including a major crash in 2022, Bitcoin has managed to rebound and attract institutional interest through new ETFs.
Ether, the reigning monarch of smart contracts, has faced stiff competition from Solana and other Ethereum-killers. However, Ethereum’s strategic upgrades, including layer-2 solutions and a shift to a more eco-friendly consensus mechanism, have kept it relevant in the rapidly evolving crypto landscape.
Tether, the stablecoin giant, has emerged stronger than ever, now the third-largest cryptocurrency by market cap. Despite its profitability and massive reserves, questions about Tether’s transparency and auditing practices persist.
Polkadot, once a promising blockchain project, has seen its ranking slip from the top 10. However, with new upgrades and innovations, Polkadot is striving to reclaim its position as a key player in the crypto space.
XRP, the Ripple-backed cryptocurrency, has weathered a legal storm and is poised for a potential comeback with discussions about an ETF in the works. ADA, Cardano’s native token, is working on scalability upgrades and decentralized governance to remain relevant in a crowded market.
Litecoin and Bitcoin Cash, two early champions of spendable cryptocurrencies, have struggled to stand out in a market dominated by Bitcoin and advanced blockchain technologies.
Chainlink, known for its oracle services, continues to play a vital role in the DeFi ecosystem, with recent upgrades enhancing its functionality and reliability. Stellar, on the other hand, faces tough competition in the cross-border payments sector and has dropped in the rankings as a result.
As the crypto landscape evolves and new players emerge, it’s essential for investors and enthusiasts to stay informed about the latest developments shaping the industry. Subscribe to the Markets Outlook newsletter for critical insights on investment opportunities and trading strategies every Monday. Don’t miss out on the exciting world of cryptocurrencies and blockchain technology!
