The recent post-election rally has sent shockwaves through the cryptocurrency market, with Bitcoin soaring by more than 40% and other cryptocurrencies making significant gains. While Bitcoin is up over 110% in 2024, many other cryptos are outperforming it.
Spot ETF candidates, such as XRP and Solana, are among the top performers. XRP has seen a surge since the election, with a recent pullback failing to reverse its nearly 250% gain for the year. Meanwhile, Solana is up almost 70% year-to-date, with significant upside potential.
Ethereum challengers like Sui are also making waves. This Layer 1 blockchain has amassed a market cap of over $13 billion in just 18 months and is seen as a top challenger to Ethereum’s dominance. Sui’s impressive post-election rally has been driven by its high-profile founder team and significant venture capital funding.
Meme coins, such as Dogecoin and Pepe, are also experiencing significant gains. However, these coins are highly speculative and can be volatile, with prices fluctuating rapidly in response to market sentiment.
After careful consideration, Solana emerges as the top pick for 2025. Its position at the intersection of spot ETF candidates, Ethereum challengers, and meme coin blockchain creation makes it an attractive investment opportunity. With a high upside potential and significant backing from venture capital, Solana is poised to soar in the coming year. However, investors should exercise caution and conduct thorough due diligence before making any investment decisions.
Source: https://www.fool.com/investing/2024/12/25/bitcoin-crosses-100000-but-are-other-cryptocurrenc