Donald Trump is back in the Oval Office as the 47th President of the U.S., and unlike his previous tenure, he is a staunch supporter of cryptocurrency. He has promised to make the U.S. "the crypto capital of the planet," bringing optimism to an industry that had faced consistent losses until last year. With Trump's promises of regulatory certainty and complete support for virtual currencies, the crypto market has found new momentum.

Before Trump officially took office, Bitcoin (BTC) saw a remarkable surge, hitting $109,000 on Monday. Just before the inauguration, both Trump and his wife, First Lady Melania Trump, launched new crypto tokens. Trump’s token, $Trump, features his image from the July 2024 assassination attempt. Together with Melania’s $MELANIA token, the combined value of the Trump family's crypto assets has already surpassed $8 billion.

As the crypto craze gains new heights, searches for "How to buy cryptocurrency" on Google have surged. Google Trends reports a peak popularity score of 100 for this search, reflecting significant interest from retail investors. "The crypto-economy has been technically feasible for a while. It just became politically feasible. All payments use stablecoins. All companies raise funds online. All accounting is on-chain. All systems are go," says Balaji Srinivasan, former CTO of Coinbase.

The surge in crypto also raises discussions about niche crypto assets being created by political movements. "These coins have gained traction due to sentiment-driven trading, but their long-term success depends on clear use cases, development plans, and broader adoption beyond speculative trends," says Vikram Subburaj, CEO of Giottus Crypto Platform.

With millions of digital assets in the market, only a handful dominate the space. These cryptocurrencies have large market capitalisations and consistent trading volume. Here’s a look at the major players:

Bitcoin (BTC)

Currently trading at $102,633.40, down 5.23% in the past 24 hours, Bitcoin has surged by 146.11% in the past year. Its market cap has soared from $781.90 billion on January 24, 2024, to $2.03 trillion. Bitcoin's circulating supply stands at 19.81 million BTC. Despite retracing 8.5% from its all-time high of $109,356 on January 20, Bitcoin is still regarded as a key asset. "Bitcoin remains crucial to watch in 2025, particularly as its resilience through economic and political turmoil underscores its status as digital gold," says Subburaj of Giottus.

Ethereum (ETH)

Ethereum has seen a 31.85% increase in the past year, with a market cap of $392.93 billion. Despite underperforming compared to other assets, Ethereum's shift to proof-of-stake and upgrades to its blockchain have reinforced its position as a leading platform. The Ethereum Foundation has committed 50,000 ETH to support the DeFi ecosystem.

Solana (SOL)

Solana has risen dramatically since its 2020 launch, surging by 155.64% in the past year. Priced at $237.16, Solana’s low transaction costs and tech upgrades have driven investor interest. Its market cap has reached $115.29 billion, with 486.67 million SOL in circulation.

Dogecoin (DOGE)

Backed by the likes of Elon Musk, Dogecoin has been one of 2024’s best-performing crypto assets. The meme coin rose by 298.26% in the past year, with its market cap now standing at $50 billion. The current circulating supply of Dogecoin is 147.71 billion DOGE.

$Trump & $Melania

Trump’s return to the presidency has sparked renewed interest in crypto tokens inspired by him. TrumpCoin, with a market cap of $7.66 billion, has surged by 465.60% from its debut price of $0.18 to $38.62. Melania’s $MELANIA coin, launched on January 20, has also made waves, with a market cap of $809.04 million and 192.21 million coins in circulation.

As the Trump administration embraces cryptocurrency, the future of the crypto market remains bright, with more tokens and assets likely to emerge in the coming months.