Hedera's HBAR, Ripple's XRP and Stellar's XLM cryptocurrencies have enjoyed the biggest gains since the US election, driven by Donald Trump's crypto-friendly agenda, according to research conducted by Bitkub, Thailand's leading cryptocurrency exchange.
Nov 5 marked a pivotal moment in global finance as the US presidential election reshaped the cryptocurrency market. With former president Trump securing a dramatic victory and unveiling policies favourable to the crypto industry, the market has experienced explosive growth.
Bitcoin led the charge, skyrocketing 60.7% in less than two months, according to Bitkub Exchange's data from Nov 5 to Dec 17.
"BTC wasn't the only star. Alternative coins [Altcoins] also saw extraordinary gains, with several outperforming," it noted, adding that the top three performers had been Hedera's HBAR, Ripple's XRP and Stellar's XLM.
HBAR saw an increase of over 579%, with the price jumping from 1.43 baht on Nov 5 to 9.72 baht on Dec 17. Hedera's decentralised network surged to unprecedented levels, making it the top-performing Altcoin in the post-US election boom.
XRP made a comeback with a 411% surge in price. The dramatic rise in Ripple's offering followed a series of legal victories and growing institutional adoption, solidifying its place as a top choice for crypto enthusiasts.
XLM is the rising star, surging over 403%. Stellar's focus on global payments and remittances aligned perfectly with market optimism, earning it the third spot among high-growth coins.
"Trump's victory catalysed optimism in the crypto space, with his pro-crypto stance providing a significant tailwind. Notably, only two Altcoins listed on the Bitkub Exchange prior to Nov 5 reported a negative performance -- a testament to the bullish sentiment sweeping the market," Bitkub said.
Meanwhile, Bitcoin continued to make headlines, repeatedly breaking all-time highs. As of Dec 17, Bitcoin stood at a staggering 3,671,998 baht, even before Trump officially assumes office, Bitkub added.
"With Trump's administration set to roll out crypto-supportive policies, the market could see even more gains. As 2025 approaches, all eyes are on the evolving US regulatory landscape and its potential to further fuel the crypto rally," Bitkub said.
For investors, this period has underscored the immense potential of cryptocurrencies. The question now is not whether the market will grow, but how high it will soar, Bitkub noted.
