Top 10 Cryptocurrencies During Trump’s Presidency: Performance and Evolution

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As Donald Trump prepares to return to the White House following his 2024 election victory, the crypto market is buzzing with renewed optimism. Bitcoin has surged to new all-time highs, and speculation is growing about how a pro-crypto administration could reshape the digital asset landscape.

This article revisits the top 10 cryptocurrencies during Trump’s previous term (2017–2021) and analyzes their performance and evolution through 2024. While the industry has undergone dramatic changes—half of those top 10 assets have since fallen out of the rankings—this retrospective offers valuable insights into resilience, innovation, and market dynamics.

Bitcoin: The Undisputed Leader Reinvented

Price on January 20, 2021: $35,302.18
Price on November 11, 2024: $82,379.60

Bitcoin not only survived the turbulence of the past few years—it thrived. After peaking near $67,000 in late 2021, it plunged to $17,000 following the FTX collapse in November 2022. Yet, like a classic comeback story, BTC rebounded strongly in 2024.

A major catalyst? The approval of spot Bitcoin ETFs in the U.S., which opened the floodgates for institutional investment. With Trump’s pro-innovation stance and criticism of SEC Chair Gary Gensler, market analysts are now eyeing the $100,000 milestone.

👉 Discover how Bitcoin's next surge could redefine digital wealth in 2025.

Beyond financialization, Bitcoin has evolved technically. Through Ordinals and Runes, it now supports NFT-like digital collectibles and memecoins directly on its base layer—adding utility without compromising security. This blend of store-of-value and cultural relevance keeps BTC at the forefront of the crypto revolution.

Ethereum: From Dominant Force to Layered Ecosystem

Price on January 20, 2021: $1,361.05
Price on November 11, 2024: $3,175.47

Once the undisputed king of smart contracts, Ethereum has transformed into a modular ecosystem anchored by Layer 2 scaling solutions. While it successfully executed The Merge in September 2022—reducing energy consumption by 99% via proof-of-stake—it now faces stiff competition from faster chains like Solana.

Ethereum’s shift toward Layer 2s (such as Optimism and Arbitrum) solved high gas fees and congestion but fragmented liquidity across multiple rollups. This “fragmentation vs. scalability” trade-off challenges its once-unified dominance.

Though Ethereum launched its own spot ETF in 2024, price appreciation lagged behind Bitcoin. Still ranked second by market cap, ETH’s future hinges on full implementation of danksharding and broader adoption of its decentralized infrastructure.

Tether (USDT): Stability Amid Scrutiny

Despite the 2022 collapse of algorithmic stablecoin TerraUSD, Tether (USDT) emerged stronger than ever. Now the third-largest cryptocurrency by market cap—surpassing $120 billion—it remains the backbone of crypto trading and liquidity.

Tether’s reserves are primarily backed by U.S. Treasury bills, making it indirectly tied to U.S. fiscal policy. In Q3 2024 alone, Tether reported a **$2.5 billion profit**, bringing its annual earnings to $7.7 billion.

However, persistent calls for a full audit linger. While Tether provides regular attestations, critics argue that transparency remains incomplete. Nevertheless, its widespread use across exchanges and DeFi platforms underscores its irreplaceable role in the digital economy.

👉 Explore how stablecoins are shaping the future of global finance.

Polkadot: Ambition Meets Reality

Price on January 20, 2021: $15.94
Price on November 11, 2024: $5.13

Polkadot once aimed to be the ultimate cross-chain interoperability hub. In early 2021, it ranked fourth in market cap with bold visions of seamless blockchain communication. By late 2024, however, it had slipped to #21.

Yet Polkadot hasn’t given up. The 2024 launch of Agile Coretime—part of Polkadot 2.0—revolutionized resource allocation by allowing developers to buy compute time directly on the network’s core layer, replacing complex auctions.

Additionally, the introduction of Polkadot Name System (PNS) and support for Bitcoin-adjacent innovations like "Inscriptions" boosted activity, with over 17 million transactions recorded in December 2023.

Still, adoption lags behind ecosystems like Ethereum and Solana. To reclaim relevance, Polkadot must accelerate developer onboarding and demonstrate real-world utility beyond technical promise.

XRP: Legal Clarity Fuels Comeback Hopes

Price on January 20, 2021: $0.2859
Price on November 11, 2024: $0.5816

XRP’s journey has been defined by legal battles. Ripple Labs faced a prolonged lawsuit from the SEC over whether XRP was an unregistered security. In a landmark 2023 ruling, a judge determined that XRP itself is not a security, though certain private sales violated regulations.

This partial win brought much-needed clarity, revitalizing the XRP ecosystem. Cross-border payment use cases—Ripple’s core mission—are gaining traction with banks and payment providers worldwide.

With regulatory headwinds easing, XRP ETF speculation has grown, placing it alongside Solana as a potential candidate for mainstream financial inclusion.

Cardano (ADA): Innovation in Progress

Price on January 20, 2021: $0.3587
Price on November 11, 2024: $0.5929

Cardano, founded by Ethereum co-founder Charles Hoskinson, was once hailed as a scalable alternative to Ethereum. While it briefly held a top-10 spot, it has since fluctuated in and out of the rankings.

Critics label it a “ghost chain” due to limited dApp activity and declining developer engagement. Data shows reduced code commits and core contributors over recent years.

But progress continues. The Chang hard fork in September 2024 introduced governance upgrades and scalability improvements. Cardano also entered its Voltaire phase, aiming for fully decentralized decision-making through on-chain voting.

If execution accelerates, Cardano may yet fulfill its long-promised potential.

Litecoin & Bitcoin Cash: Legacy Chains Seeking Purpose

Both launched as “digital cash” alternatives—Litecoin as “silver” to Bitcoin’s “gold,” and Bitcoin Cash as a block-size-increased fork promising faster, cheaper payments.

While they retain niche adoption (e.g., cafes in Buenos Aires or Slovenia), neither achieved mass transactional use. With Bitcoin dominating as digital gold and newer chains offering smart contracts, LTC and BCH struggle to differentiate.

Now ranked #25 and #19 respectively, their paths forward depend on fostering utility beyond nostalgia.

Chainlink (LINK): The Silent Backbone of DeFi

Price on January 20, 2021: $20.51
Price on November 11, 2024: $13.99

Chainlink doesn’t chase headlines—it powers them. As the leading decentralized oracle network, LINK feeds real-world data (prices, weather, events) into smart contracts across DeFi platforms.

The Chainlink 2.0 upgrade expanded capabilities with decentralized oracle networks (DONs), dynamic NFTs, and automation tools. Staking—long requested by users—was finally introduced in 2024, enabling holders to secure the network and earn rewards.

Despite growing utility, LINK’s price has declined amid increased competition from newer oracle providers and self-built solutions within DeFi protocols.

Stellar (XLM): Niche Growth Amid Challenges

Price on January 20, 2021: $0.2917
Price on November 11, 2024: $0.1092

Stellar focuses on fast, low-cost cross-border payments and financial inclusion. It made strides in CBDC development, partnering with Ukraine to pilot a digital hryvnia.

However, competition from centralized systems and larger blockchains has limited XLM’s growth. Once a top-10 asset, it now ranks #35 by market cap.

To regain momentum, Stellar must secure more institutional partnerships and expand use beyond remittance corridors.

Frequently Asked Questions (FAQ)

Q: Did any top 10 cryptocurrencies from Trump’s first term maintain their rank?
A: Only Bitcoin and Ethereum remain in the top two positions. Others like Polkadot, XRP, ADA, and XLM have dropped significantly or fluctuated in and out of the top 10.

Q: Why did some early leaders lose ground?
A: Factors include lack of innovation velocity (e.g., Cardano), regulatory uncertainty (e.g., XRP), intense competition (e.g., Polkadot vs. Solana), and failure to achieve mass adoption (e.g., Litecoin).

Q: What role do ETFs play in crypto price movements?
A: Spot ETF approvals—especially for Bitcoin—unlock institutional capital by offering regulated exposure. This drives demand and legitimizes assets in traditional finance.

Q: Is Tether safe despite no full audit?
A: While Tether provides regular reserve attestations and holds mostly U.S. Treasuries, absence of a comprehensive audit raises concerns. However, its stability over multiple market cycles suggests strong underlying backing.

Q: Can older blockchains like Litecoin regain relevance?
A: Only if they find new utility—such as integration with emerging networks or adoption in specific regions with high remittance needs.

Q: How might Trump’s return affect crypto regulation?
A: His administration is expected to take a more favorable stance toward innovation compared to the SEC’s strict enforcement under Gensler, potentially accelerating approvals for ETH ETFs and clearer crypto frameworks.

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