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Despite a pro-crypto regulatory environment suggested by the Trump administration, Made in USA coins have faltered significantly in recent months.
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As of April 2025, all five major U.S.-linked cryptocurrencies have declined over 20%, raising questions about the underlying market dynamics.
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According to experts at COINOTAG, “The performance of these assets signals an urgent need for policy clarity to stimulate investor confidence.”
Made in USA coins face substantial challenges, with significant declines despite supportive regulatory signals; meanwhile, global cryptocurrencies show resilience.
Made in USA Coins Endure Significant Losses
As we enter the second quarter of 2025, Made in USA coins have seen a dramatic drop, with all five major assets losing at least 20% of their value since January 20. Initially expected to thrive under favorable regulatory changes, these cryptocurrencies have instead exhibited a troubling downward trend.
The leading underperformer among these coins is Solana (SOL), which has plummeted over 41%. Despite recent efforts that resulted in a short-term recovery of more than 18% in the last month, this growth has not offset broader losses.
In contrast, SUI has emerged as a surprising player, experiencing a remarkable 58% surge, driven largely by increased interest in meme coins and decentralized exchange activity. Recently, it positioned itself as the fifth-largest chain by DEX volume, highlighting a shift in trader behavior.
Meanwhile, other coins such as Cardano (ADA), Chainlink (LINK), and XRP have seen minimal gains of 7-10% over the past month, but remain significantly down over 24% since the beginning of the year.
Made in USA Coins Performance Since January 20. Source: Messari.
This poor performance starkly contrasts initial optimism surrounding Trump’s return to office, where many expected a more welcoming landscape for cryptocurrencies. However, while the SEC has dropped various cases against crypto firms, potentially easing regulatory pressure, other policies—particularly those regarding tariffs—may cloud the outlook for U.S.-linked crypto assets.
Resilience in Non-USA Cryptocurrencies Amidst Uncertainty
In the broader cryptocurrency ecosystem, non-U.S. assets have generally demonstrated greater resilience. Among the largest non-USA cryptocurrencies, only Ethereum (ETH) and Dogecoin (DOGE) have experienced marked declines over the last 100 days—specifically, a drop of over 43% for ETH and about 51% for DOGE.
Notably, Bitcoin (BTC) has only seen a modest decline of around 6%, and Binance Coin (BNB) has decreased by about 12%. The positive momentum for BTC is especially noteworthy, as it has catapulted nearly 16% in the past month, suggesting a stronger market sentiment.
Biggest Coins (Excluding Made in USA Coins) Performance Since January 20. Source: Messari.
Amidst these trends, TRON (TRX) stands out, having recorded gains over both 30-day and 100-day periods, with an increase of 7.5% over the last 100 days. This performance reinforces the notion that international cryptocurrencies may successfully navigate regulatory shifts more adeptly than their U.S. counterparts.
Overall, while the regulatory atmosphere in the United States appears to be improving, persistent macroeconomic challenges and specific policy headwinds create significant obstacles for domestic crypto assets.
Conclusion
The first 100 days into Trump’s administration have been tumultuous for Made in USA coins, underscoring the unpredictable and often volatile nature of cryptocurrency markets. As domestic cryptocurrencies continue to struggle with notable declines, their international counterparts such as Bitcoin and TRX are thriving, suggesting a divergence in market sentiments and performance. The future trajectory of U.S.-linked assets heavily rests on clearer policy outlines that can restore investor confidence within this fragmented landscape.
