The cryptocurrency market is gaining momentum in the new year, with Bitcoin’s price hovering around $100,000. Adding to this positive outlook, anticipation is building around Donald Trump’s upcoming inauguration on Jan. 20, further bolstering crypto investor confidence.
Let’s take a look at which cryptocurrencies are worth monitoring.
XRP is the native token of the XRP Ledger, an open-source blockchain. It is used by the Ripple payment network to facilitate cross-border transactions and is designed to act as a bridge currency. It’s important to note that Ripple, the company, operates the network but does not own XRP.
The cryptocurrency experienced a significant surge following Donald Trump’s victory in the U.S. presidential election, and with the inauguration a few days away, investors have begun pouring more money into the token.
XRP’s issuer, Ripple, has faced significant challenges with the Securities and Exchange Commission (SEC) over the past few years. However, with SEC Chair Gary Gensler set to depart soon, the outlook for the crypto looks promising.
Currently, XRP (XRP) is trading at $2.4, with over 18% gain in the past week.
Cardano, the ninth-largest cryptocurrency by market cap, has been rising following Trump’s reelection. There are rumors that its founder, Charles Hoskinson, might join the Trump administration in 2025. While these speculations remain unconfirmed, Cardano’s price is on the rise.
Currently, Cardano (ADA) is trading around $1.07, which is up more than 26% over the past seven days.
The Stellar network, renowned for its efficient and cost-effective blockchain solutions, has earned the trust of major financial institutions globally.
Last week, Stellar announced a partnership with the fintech company Fonbnk, which enables individuals with prepaid mobile SIM cards to access the global digital economy. Through this collaboration, those with a mobile SIM card will be able to use Stellar’s technology for digital banking solutions.
Currently, Stellar (XLM) is trading at $0.45, reflecting an impressive 38% gain in a week.
Sui, the native cryptocurrency of the SUI Layer-1 blockchain, is designed for high transaction speeds and seamless smart contract execution.
Last year, Phantom Wallet, one of the leading cryptocurrency wallets, announced its plans to support the Sui blockchain network, further boosting Sui’s price and increasing investor interest.
Sui’s popularity and adaptability have resulted in its Total Value Locked (TVL) exceeding $1.8 billion. In the cryptocurrency space, the Total Value Locked refers to the market value of digital assets that are currently held within a decentralized finance (DeFi) protocol or platform. A consistently high TVL indicates a strong and stable decentralized application that has significant utility among users.
Currently, Sui (SUI) is trading at $5.2, representing an increase of over 30%.
Avalanche is a blockchain network positioned as a direct competitor to Ethereum, with a focus on improving transaction speed and reducing fees. Avalanche claims significantly faster performance, handling 6,500 transactions per second (TPS) compared to Ethereum’s 12-15 TPS. This scalability and cost-efficiency have been central to its appeal, especially for decentralized applications (dApps) and financial solutions.
Avalanche has been working on the Avalanche9000 network upgrade, which reduces blockchain costs by 99.9%. The upgrade went live at the end of 2024, and the blockchain network has received support from users since then.
The cryptocurrency (AVAX) is up by over 26% in a week and is currently trading at $44.
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