5 cryptocurrencies to watch right now

Since Donald Trump was reelected as the 47th President of the United States, the leading cryptocurrency has repeatedly shattered all-time highs. On the day of his inauguration, Bitcoin surged to a record $108,786, fueling investor optimism for a potential Bitcoin Reserve announcement. Several states have already expressed interest in stockpiling Bitcoin, and developments on this front could emerge this quarter.

As of mid-February, Bitcoin is trading at $95,000.

Ether, the second-largest cryptocurrency by market capitalization, has been closely following Bitcoin’s trajectory but has yet to surpass its all-time high reached in 2021 at $4,878.

Despite this, Ethereum remains a cornerstone of the blockchain industry, serving as the foundation for thousands of decentralized applications (dApps) and enabling a wide range of use cases, from decentralized finance (DeFi) to non-fungible tokens (NFTs).

With its robust ecosystem and continuous network upgrades, Ethereum has significant room for growth in the near future, positioning its native token, Ether, as one to watch in the evolving crypto landscape.

As of mid-February, Ether is trading at $2,600.

Solana is one of the fastest-growing major cryptocurrencies. It competes with Ethereum in terms of speed and has emerged as a strong platform for hosting hundreds of decentralized applications (dApps). Additionally, several popular memecoins are developed on the Solana blockchain, which has further expanded Solana’s use cases.

Following the successful launch of Bitcoin and Ether ETFs, there are strong indications that Solana ETFs may be launched soon. Several asset management companies have already submitted applications for them. Investors should keep an eye on this development, as it could make the Solana token a focal point this quarter.

As of mid-February, Solana is trading at $192.

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’s important to note that Ripple, the company, operates the network but does not own XRP.

Ripple has been involved in a legal battle with the U.S. Securities and Exchange Commission (SEC) for years, as the financial regulator accused Ripple of selling XRP as an unregistered security.

The situation now appears to be more favorable for Ripple. In August 2024, a court ordered Ripple to pay a $125 million fine for violating investor-protection laws, significantly less than the $2 billion sought by the SEC. Moreover, there are speculations that the SEC may soon approve XRP exchange-traded funds (ETFs).

As of mid-February, XRP is trading at $2.4.

Cardano has been rising following Trump’s reelection. There are rumors that its founder, Charles Hoskinson, might join the Trump administration in 2025. While these speculations remain unconfirmed, Cardano’s price is on the rise.

Furthermore, the chances of approval for Cardano ETFs have increased since the crypto asset management company Grayscale has filed for one, which is expected to raise the token’s price.

As of mid-February, Cardano is trading at $0.8.