Cryptocurrencies to watch this week

The cryptocurrency market is gaining momentum in the new year, with the price of Bitcoin hovering around $100,000. In addition to these positive expectations, anticipation is growing around Donald Trump’s upcoming inauguration on January 20, boosting the confidence of cryptocurrency investors.

Let’s take a look at which cryptocurrencies are worth keeping an eye on.

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 is important to note that Ripple, the company that operates the network, does not own XRP.

The cryptocurrency saw a major boom after Donald Trump won the US presidential election, and with his inauguration a few days later, investors began pouring more money into the token.

Ripple, the issuer of XRP, has faced significant challenges with the Securities and Exchange Commission (SEC) over the past few years. However, with SEC Chairman Gary Gensler set to leave soon, the outlook for cryptocurrencies looks promising.

Currently, XRP (XRP) is trading at $2.4, with gains of over 18% in the past week.

The value of Cardano, the ninth-largest cryptocurrency by market capitalization, rose after Trump’s re-election. there Rumors that its founder Charles Hoskinson may join the Trump administration in 2025. While this speculation is still unconfirmed, the price of Cardano is on the rise.

Currently, Cardano (ADA) is trading at around $1.07, which is up over 26% over the past seven days.

Known for its efficient and cost-effective blockchain solutions, Stellar Network has gained the trust of major financial institutions globally.

Last week, Steelers Announce Partnership with 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 technology for digital banking solutions.

Currently, Stellar Coin (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, Announce Its plans to support the Sui blockchain network, which will boost the price of Sui and increase investor interest.

Sui’s popularity and adaptability resulted Its total value locked (TVL) exceeds $1.8 billion. In the cryptocurrency space, total value locked refers to the market value of digital assets currently held within a decentralized finance (DeFi) protocol or platform. A consistently high TVL level indicates a strong and stable dApp that has significant interest among users.

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