Kaiko analysts note the outperforming growth of XRP and SOL yields compared to BTC

The growth rates of the leading altcoins increased after the elections in the United States

17.12.2024 - 15:05

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4 min

What’s new? Options traders bet about $640 million that bitcoin would hit the $120 000 mark on December 27. According to analysts at Kaiko, there is only a 10% chance that this prediction will be fulfilled and investors should instead use other cryptocurrencies.

Material by DL News

What else is known? “While the chances of BTC gaining another $15 000 in the next 10 days or so are slim, this doesn’t mean there won’t be gains in other assets,” the note reads.

Leading altcoins such as Solana (SOL), XRP, and Cardano (ADA) have outperformed bitcoin and Ethereum in 2024 in terms of yield growth, which has particularly intensified since Donald Trump won the US presidential election, Kaiko noted.

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The growth of assets was also helped by news of the change of chairman of the US Securities and Exchange Commission (SEC), which in previous years put pressure on the crypto sector and filed lawsuits against its leading players, refusing to clarify the rules of operation. The current head of the agency, Gary Gensler, will leave office after Trump’s inauguration on January 20.

“These assets are all set to be major winners amid changing regulatory landscape in the US,” the company emphasized.

Ripple’s XRP token has become the clear winner of the post-election rally: since November 5, it has soared more than 400% and as a result has moved up two places in the cryptocurrency ranking by market capitalization, currently second only to BTC and ETH.

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As for SOL, the asset hit an all-time high of $263 in late November but has since corrected by 15%. Despite the decline, the asset is up 33% since the election.

Some analysts are extremely optimistic about the asset. Standard Chartered believes that SOL could rise to almost $700 by the end of 2025.