Top U.S. Based Crypto Coins in January 2025

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Eliman Dambell

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Eliman Dambell

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Eliman Dambell was a news writer and editor at Bitcoin.com, FXStreet and Investing.com. He commentates on various markets, including Crypto, Stocks and FX.

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January 7, 2025 10:49 EST

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Crypto markets have been on the rise since the U.S. Presidential election, with investors hoping for a sea of changes with the incoming administration. Donald Trump, who several heavyweights in the industry endorsed, is expected to make sweeping changes to regulation, and taxes of cryptocurrency gains. One such area is capital gains taxes, which Trump may remove for cryptocurrencies issued by American companies.

In this guide, we will explore the US-based crypto market to see which tokens and projects could most benefit from such a change. Some notable names include Ripple (XRP), and Solana (SOL), among many others.

Top U.S. Based Crypto Projects Reviewed

Okay, so now you know the top 8 cryptos based in the U.S. let’s look at each separately, and analyze how a capital gains tax exemption could benefit them.

1. Ripple (XRP) – Top US-Based Crypto With Potential For Further Growth

Ripple Labs is the largest crypto founded and based in the United States, with a market capitalization of $187.21B. Headquartered in San Francisco, California, the team which consists of Chris Larsen, and Jed developed the project as a solution to streamline cross-border payments. Powered by the $XRP token, Ripple’s fundamental appeal lies in its ability to process transactions, at minimal fees quickly.

The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) may end. The previous SEC enforcement attorney Marc Fagel suggests that recent orders from Judge Analisa Torres could lead to a possible settlement agreement. Both parties have appealed the less favorable aspects of each side of the case, indicating a mutual interest in resolving the legal issue. Fagel also highlights that the incoming Trump administration and potential SEC Chair Paul Atkins may prefer to end the case rather than pursue longer litigation.

Ripple’s legal counsel, Jeremy Hogan, projects that the trial could extend into April or May 2025, citing the need to thoroughly examine reports and regulatory meetings before reaching a final decision. We remain optimistic that a settlement could lead to positive results and possibilities for XRP, including the possible approval of an XRP exchange-traded fund (ETF), which may increase adoption and its market value.

2. Solana (SOL) – The Fastest Blockchain in the U.S. With $100 Billion Market Cap

Solana has been one of the top U.S. crypto projects since it launched during the height of the 2020 pandemic. Developed by Solana Labs in San Francisco, Solana is a high-performance blockchain known for its scalability and low fees, especially when compared to the likes of Ethereum. Currently, Solana can process around 2,000 transactions per second (TPS), with Ethereum handling roughly 15 TPS. It has achieved this using its unique Proof-of-History (PoH) consensus mechanism.

The project was founded by Anatoly Yakovenko and Raj Gokal, with backers including Silicon Valley’s A16Z, who led a $316 million private token sale of $SOL. Having a strong U.S. foundation and innovative technology make it a top candidate for benefiting from tax exemptions under Trump’s proposed crypto-friendly policies.

During the Biden administration, the U.S. Securities and Exchange Commission (SEC) is expected to reject applications for Solana-based spot exchange-traded funds (ETFs). This delay is because there are still some regulatory uncertainties and issues over Solana’s classification as security. This shows that SEC is still cautious about cryptocurrency-related financial assets under the current administration. However, we expect a change in SEC’s administration soon. Due to this change, investors are optimistic that more crypto-friendly regulatory standards may be set. Our experts suggest that the new leadership may be more open to approving those ETFs, potentially preparing the industry for higher adoption and investment rates in Solana.

3. Hedera (HBAR) – Highly-Sustainable U.S. Crypto Project Powering dApps

Hedera (HBAR) is an American-led project that is governed by a council of global companies, many of which are based in the United States, including Google and IBM. The Hedera network is known for its efficiency and low environmental impact, making it an attractive choice for institutions looking for sustainable blockchain solutions.

Overall, Hedera is not just a blockchain, it uses a Directed Acyclic Graph (DAG) model to ensure fast and secure transactions, a feature that sets it apart in the crypto landscape. Founded by Leemon Baird, Mance Harmon, and Andrew Masanto $HBAR is well-positioned to capitalize on a zero-tax policy for U.S.-based cryptocurrencies.

Additionally, having American tech giants on its governing council could help increase its chances of being a beneficiary of any pro-crypto reforms. Currently, $HBAR is a top 20 crypto, with a market capitalization of $13.28B.

4. Cardano (ADA) PoS Blockchain Looking to Bring Positive Global Change

Cardano was originally founded by American Charles Hoskinson, who was one of the co-founders of Ethereum. This was done via IOHK (Input Output Hong Kong) and the Cardano Foundation, which he also started, and its initial operations were rooted in the United States. Using a multi-layer architectural system, Cardano allows for the creation of secure and scalable applications, positioning it as a robust alternative to older blockchain systems. While the Cardano Foundation is based in Zurich, Cardano retains ties to its U.S. origins through IOHK, which relocated to the United States in 2018.

The incoming Trump administration’s crypto-friendly tax policies could make Cardano a more attractive investment for U.S. investors, especially as it is already an established name in the industry. Its focus on sustainability, smart contract functionality, and decentralized governance aligns well with the increasing demand for eco-friendly and transparent blockchain solutions.

At the time of writing this, $ADA has a market cap of $39.27B and has surged by 117% since Donald Trump won the U.S. election in November. The gains also came after SEC Chair Gary Gensler announced he was resigning from his role. $ADA was another token that was targeted by Gensler’s SEC.

5. Algorand (ALGO) – Boston-Based Cryptocurrency With Fast Transaction Speed

The next US-based cryptocurrency on the list is Algorand. Based in Boston, Massachusetts, Algorand was founded by Silvio Micali with the vision of creating a decentralized, borderless digital economy. Known for its fast and efficient blockchain, Algorand is capable of handling around 2,000 TPS without compromising security. The chain uses a Pure Proof-of-Stake (PPoS) mechanism to ensure decentralization and energy efficiency, making it a leader in sustainable blockchain solutions.

Micali, who was a high-profile professor at MIT before founding Algorand, has even been mentioned by some as a potential candidate for a crypto advisory position under Trump. Regardless of this, $ALGO has a lot to gain from potential tax reforms favoring domestic crypto innovations. Its application in DeFi, tokenized assets, and supply chain management showcases its versatility and relevance in real-world scenarios.

A supportive regulatory environment could further bolster Algorand’s adoption and growth, solidifying its position as one of the leading American blockchain projects. $ALGO has a market cap of $3.97B and has surged by 110% since Trump’s re-election.

6. Tron (TRX): Exciting U.S Based Blockchain Platform

Tron (TRX) was originally founded in the U.S. by Justin Sun during his time at the University of Pennsylvania. The Tron network is dedicated to building a decentralized internet ecosystem, offering high-speed transactions of 85 per second and scalability that rivals more established blockchain networks. The crypto platform has particularly gained traction in the entertainment and content-sharing industries through its partnership with Sony, enabling creators to monetize directly without intermediaries.

Based in San Francisco, TRX has developed strong U.S. connections, including partnerships with blockchain-based firms like BitTorrent, a U.S.-developed file-sharing platform acquired by Tron in 2018. In December 2024, President-elect Donald Trump partnered with Tron through World Liberty Financial Inc., aiming to leverage its blockchain technology for efficient, scalable financial solutions.

These connections could place TRX in a favorable position if U.S.-based cryptocurrencies benefit from tax exemptions under new policies Its value has risen by 50% since the speculation over these new policies has emerged, being currently traded at $0.24.

7. Stellar (XLM): U.S. Crypto Project Making Cross-Border Transactions Easy

Stellar (XLM) has become a key player in the global financial ecosystem, aiming to streamline cross-border transactions. Co-founded by Jed McCaleb, a prominent figure in the U.S. crypto scene, Stellar operates under the Stellar Development Foundation, a non-profit based in San Francisco. Stellar’s mission is to improve financial inclusion by providing fast and affordable remittance solutions, particularly for the unbanked population.

Unlike Ripple, which focuses on institutions, Stellar emphasizes empowering individuals and small businesses. This makes it a natural fit for U.S.-based initiatives promoting financial accessibility. If U.S.-focused policies reduce taxation for homegrown cryptocurrencies, Stellar could see increased adoption in cross-border trade, remittances, and decentralized finance.

In December 2024, Stellar Lumens (XLM) reached a peak of $0.56, a 300% increase compared to the same period in November 2024. This price change can be linked to Stellar’s correlation with Ripple (XRP), which also displayed an increasing pattern during that time, suggesting further potential gains.

8. Filecoin (FIL): America’s Answer to Decentralized Storage

Filecoin (FIL) was created by Protocol Labs, which is a project born in the U.S. Its mission is to revolutionize data storage through decentralization, offering a blockchain-based alternative to centralized giants like Amazon Web Services. Filecoin enables individuals and businesses to rent unused storage space, creating a cost-effective and censorship-resistant data storage network.

Headquartered in California, Protocol Labs ensures Filecoin maintains a strong U.S. presence. The platform is lauded for its environmentally conscious design and its ability to bridge Web2 and Web3.

With its potential inclusion in tax-exempt cryptocurrency lists, Filecoin could gain even more traction among enterprises seeking innovative and cost-effective storage solutions. The token has risen by over 77% since Trump’s election victory.

Will Trump Eliminate Taxes on U.S. Based Cryptocurrencies?

In his bid for re-election, President-elect Trump promised to make America the “Crypto capital of the world”. A key part of doing this was to help propel cryptocurrencies and projects based in the United States, with a proposal that could see tax exemptions.

According to sources within the transition team, it is said that Trump has proposed removing capital gains taxes on cryptocurrencies issued by American firms. Although the exact details of this would-be proposal have not yet been determined, the prospect of such changes has helped propel the likes of American-based $XRP, which has recently regained its spot as the third-largest cryptocurrency in the world.

The Impact of a Zero Tax Policy on U.S. Cryptocurrencies

So, the potential changes to the US crypto tax system regulation have been well-received by the markets. Let’s dig deeper to see what the actual impact of these changes could be.

Major Price Upside for U.S. Crypto Coins

The first and most obvious impact will be on the price of crypto coins that were issued and based in the United States. As mentioned above, Ripple ($XRP) is now the world’s third-largest cryptocurrency, with its recent rise to a $187.21B market cap project linked to Trump’s recent election win. The potential for new regulation and a tax-friendly ecosystem for investors is driving up demand for the token, which could see more gains in the coming months.

Launch of More Crypto Startups in the USA

A low corporate tax rate in Ireland helped the country attract tech startups, and the US could be looking to follow this model with the crypto industry. Currently, a lot of the world’s largest crypto companies are operating outside of the United States, due to the uncertainty of regulation and tax obligations. Should the country become more competitive in this regard, we could see more companies decide to relocate or start here.

Foreign Cryptocurrencies Could Become Less Competitive

Wherever we see a rise in demand, the opposite could be happening in another field. This could be the case if more companies are founded in the US, and the price of American-based tokens surges. Foreign cryptos could face an exodus of investors, especially for more obscure and lesser-known projects. As such, to remain competitive, you could see a sea of change, with regulation across the globe becoming friendlier for the industry.

Are U.S. Based Cryptocurrencies a Good Investment?

Looking back a year ago, when $XRP was trading at $0.57 and $SOL was trading at $97.81, many would have answered no to this question. Despite the uncertainty, main believed that with a change in the SEC’s position, there could be an upside to both projects, as well as other cryptocurrencies based in the United States. $SOL is now trading above $219.84, hitting a new record high in the process, and $XRP is trading at $3.26, which is close to its all-time high of $3.92.

Here are some factors that could help continue to propel these and other US cryptos in the coming years.

Pro-Crypto Trump Administration

As seen through the course of this guide, the Trump administration seems hellbent on making America the crypto capital of the world, starting with regulatory restructuring. Long-time foe of the industry Gary Gensler has stepped down from his role at the SEC as a result, giving Trump the opportunity to appoint a pro-crypto person to the position. This could be the start, with new roles and crypto advisory jobs created to help Trump’s vision for the industry come to light.

Strong Institutional Backing

The industry has already seen a strong level of institutional backers in recent years, however, the regulatory cloud that hovered around it helped prevent a true rise in adoption. Should the government bring a clear and concise plan for the industry, we could see more businesses begin to take a more active role in adopting cryptocurrencies, whether for payments or simply using blockchain technology to roll out new services for American customers.

Potential Downsides of Buying U.S. Based Cryptocurrencies

Despite the clear advantages of new tax and regulatory change, there are equally some possible downside risks to be considered. Here are some.

Regulatory Uncertainty

While the SEC’s case against Ripple is moving towards a resolution, regulatory ambiguity still lingers. However, the departure of SEC Chair Gary Gensler could signal a friendlier regulatory environment. This sounds great, however, there could be regulatory tensions when it comes to the implementation of actual laws. There is no guarantee that these changes will have an immediate positive impact on the market.

Other Countries are More Competitive

Also, countries like Singapore and Switzerland offer lower operational costs and greater regulatory clarity, making them attractive alternatives for blockchain developers. The United States will have to compete with these jurisdictions to win developers and investors, and should new regulations not be beneficial to American-based crypto projects, there could also be an exodus of startups relocating elsewhere.

Conclusion

Since the US election, American-based cryptocurrencies have made significant gains on the prospect of a pro-crypto administration. The likes of $XRP, $SOL, and $ADA have all risen, with the hope there will be more clarity on the regulatory issues they faced under Gensler’s chairship of the SEC. Additionally, investors appear to be buoyed by the prospect of zero capital gains, resulting in a buying frenzy.

Although the future looks promising for US investors and crypto founders, there is still uncertainty on the exact policies that could be incoming. As such, it is important to remain diligent before making any decisions to buy American-based cryptos.

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