30s Summary

Bitcoin hit an all-time high following Donald Trump’s 2024 US election win, indicating a cryptocurrency-friendly approach. During his previous term, Bitcoin underwent numerous fluctuations and half of the top 10 coins have since fallen out of favor. Now Bitcoin is approaching the $100,000 mark. Ether is facing competition but is adapting via layer-2 solutions. USDT’s value has jumped to $120 billion and XRP is experiencing promising growth despite legal issues. Litecoin and Bitcoin Cash are struggling for relevance, while Chainlink thrives in the DeFi ecosystem. Stellar, having lost its shine, is still making strides in the CBDC domain.

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Bitcoin’s value just hit an all-time high with Donald Trump’s win in the 2024 US election. Trump’s return to the White House also indicates a more cryptocurrency-friendly approach than we saw in his previous term.

Curious what happened to Bitcoin during Trump’s last term? Here’s a quick recap: during his last stint in the White House, Bitcoin experienced a load of ups and downs. It’s hard to believe that half of the top 10 coins from his time have already fallen out of favor.

Now, we’re looking at what the future of Bitcoin holds as Trump takes his second turn in the Oval Office. Investors are eyeing the $100,000 mark and Bitcoin’s performance isn’t disappointing – it has already soared past $82,000.

Bitcoin isn’t all that’s changed. Remember Ether? It used to rule the roost when it came to smart contracts. These days, it has some serious competition, but it’s handling it well, adopting layer-2 solutions to keep up with demand. That move though, fragmented Ethereum’s ecosystem into mini-ecosystems.

Meanwhile, USDT, the third-largest cryptocurrency (yeah, we were surprised too), has seen its valuation shoot up to about $120 billion. But the question remains, can we really trust USDT given it’s yet to undergo a comprehensive audit?

Polkadot, on the other hand, has fallen from grace since it became popular during Trump’s last term. It’s now trying to rebuild its value and prospects.

Fast forward to 2024, and XRP is showing promising growth. Despite its legal battles, XRP’s price jumped from $0.2958 to $0.5355, a more than double increase in its market cap to a cool $30.5 billion. That’s pretty solid for a cryptocurrency that’s gone through some serious courtroom drama.

And then there’s Litecoin and Bitcoin Cash, the early contenders of ‘spendable’ cryptocurrency. These two haven’t been able to grasp the spotlight, with Bitcoin now viewed as ‘digital gold.’ They’re both struggling to stay relevant.

Chainlink, the one that’s been operating behind the scenes feeding price data, weather forecasts, and other real-world information to blockchains is seeing a solid performance. They’re playing a big role in the decentralized finance (DeFi) ecosystem.

Finally we have Stellar, another venture from a Ripple co-founder. It’s lost its shine a bit but is still making strides, particularly in the central bank digital currency (CBDC) realm.

As you can see, a lot has changed since Bitcoin first popped onto the scene, and it looks like more changes are in the pipeline with Trump’s return to the presidency.