After Donald Trump secured a second term in the White House last month—with the promise of friendlier crypto regulation—the floodgates have reopened, and crypto prices are booming.
Bitcoin (BTC) led the charge, with the top crypto pushing to new highs last month. Since hitting a wall just below $100,000, it’s a rotating selection of altcoins that are now benefiting from renewed investor interest.
Dogecoin pumped on the back of its Elon Musk connection and plans for a Department of Government Efficiency (yes, DOGE) that he will co-lead. The original meme coin surged to a three-year high price in late November and remains not far from that mark, bringing several other notable meme coins along for the ride.
Dogecoin Could Soar 'Far Beyond' Current All-Time High Price: Analyst
Even months ago, it would’ve sounded like a meme-induced fever dream. Crypto emerging as the biggest winner of the 2024 election; Elon Musk, Dogecoin’s most prominent advocate, rising to unprecedented levels of influence and power; the incoming U.S. presidential administration planning to establish a new federal agency—literally—called D.O.G.E. But it’s all real, and it’s all happening. And off the remarkable events of the last week, Dogecoin has soared. On election day, DOGE hovered around $0...
Solana (SOL) has also pumped, pushing to a new all-time high mark of $263 in November, though it has since retraced to $235, CoinGecko data shows.
And Ethereum (ETH)—which famously lagged Bitcoin’s gains this year—finally got a leg up over the weekend, pushing to an eight-month high above $3,730.
But some of the biggest gainers of late have been surprise picks—tokens that hadn’t seen much upside in years, including some of the industry’s best-known coins.
XRP Surges Another 45%, Crushing Recent Bitcoin and Dogecoin Gains
XRP continued to surge into Monday, jumping to a price of $2.74—the highest mark seen since January 2018, and boosting the price by more than five times over the last 30 days. The Ripple-linked cryptocurrency began rising after Donald Trump's election win last month, but really took off after Securities and Exchange Commission (SEC) Chair Gary Gensler announced that he will resign effective January 20, 2025. Gensler has led the agency's charge against crypto firms offering allegedly unregistered...
XRP has been the most significant, with the asset used in Ripple’s payments ecosystem skyrocketing over the last few weeks, charting a more than 400% climb over the last 30 days.
The surge has been driven by growing optimism surrounding regulatory clarity and the potential introduction of spot exchange-traded funds and other financial products.
The enthusiasm has been further amplified by the announcement of Securities and Exchange Commission Chair Gary Gensler's departure in January, following his leadership in the agency's multi-year case against Ripple Labs. XRP hit a seven-year high price on Monday, above $2.82
'Astonishing' XRP Surge Driven by Regulatory Hopes, ETF Speculation: Analysts
As the price of XRP surged to a fresh seven-year high mark Monday, analysts told Decrypt that the asset’s stunning ascent is being driven by a series of post-election factors, ranging from renewed regulatory hopes to the potential for XRP-centric investment products. Since Election Day last month, the token stewarded by Ripple Labs has been one of the crypto market’s best performers, outpacing Bitcoin and Ethereum’s relative gains. Since November 5, for example, the price of XRP has more than qu...
Tron (TRX) is also making a surprise surge, with the asset jumping to a new all-time high price on Tuesday. Much like XRP, Tron toppled a seven-year-old record from January 2018 and is now up 69% on the day at a price of nearly $0.37.
However, it’s not the only long-running cryptocurrency that’s capturing trading enthusiasm from this year’s last-minute run-up.
Hedera (HBAR) is the biggest gainer in the top 100 coins by market cap this week, up 137% in seven days. IOTA has nearly matched it with a 130% spike, with Algorand (ALGO) jumping 84% during the same span.
The Sandbox, Decentraland, and Gala Gaming Tokens Surge After Long Lull
If there's anything that competitive gaming could teach us, it’s that early setbacks don't determine future outcomes. A substantial rally is building among top gaming tokens, with The Sandbox (SAND) leading gains. Its token, SAND, has seen a jump of more than 32.3% over the last 24 hours, bringing its price to the $0.8 level. It's also showing signs of strong momentum, with a 7-day increase of 26.2%, CoinGecko data shows. The numbers are more telling when compared over a longer time period: SAND...
Other major gainers this week include Litecoin, Tezos, Chainlink, and EOS, while Cardano has spiked by 200% over the last month. Even metaverse gaming tokens like The Sandbox (SAND) and Decentraland (MANA) are skyrocketing.
That’s right: the metaverse. It’s 2021 all over again. Or 2018, depending on which token you’re looking at.
Bitcoin remains in range of the vaunted $100,000 milestone after several close calls in recent weeks, stalling out at a peak of $99,645 on November 22 and currently sitting around $96,000.
Edited by Sebastian Sinclair
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