Dogecoin and XRP were among the tokens most affected by the upward momentum. However, risk factors related to these assets have emerged in recent days. In this environment, a new token that can compete with Dogecoin and XRP attracts attention: Elluminex (ELX).

Dogecoin has been one of the best-performing cryptocurrencies since Donald Trump won the presidential election in November. Dogecoin rose from $0.1 to $0.48, reaching a yearly high, an increase of more than 450%. However, the “Official Trump Meme Coin” project, which was launched before Trump took office, created anxiety among Dogecoin investors.

This new token reached a market cap of $10 billion in just a few days of its launch. However, critics argue that this could undermine trust in the crypto market and raise conflict of interest concerns.

On the other hand, Dogecoin has strong supporters. Elon Musk is one of the biggest proponents of Dogecoin, as well as the newly established “D.O.G.E. He was appointed head of the agency. The purpose of this agency is to reduce government spending. But the agency faced a lawsuit right after Trump’s inauguration. Although all these uncertainties threaten Dogecoin’s earnings, the new crypto-friendly management could boost market sentiment.

XRP has increased by 450% since Trump’s election victory, reaching $3.06, similar to Dogecoin. It is currently the third largest crypto asset after Bitcoin and Ethereum.

The most important reason for this rise of XRP is the expected regulatory changes in the USA. The departure of the previous chairman of the SEC, Gary Gensler, is considered a positive development for Ripple. Investors believe Ripple can resolve its years-long lawsuit with the SEC.

More importantly, the SEC’s new crypto-friendly leader, Mark Uyeda, is thought to approve a spot exchange-traded fund (ETF) for XRP. This could increase institutional capital inflows by further legitimizing XRP.

Despite the growth of Dogecoin and XRP, Elluminex has the potential to rival both tokens. Built on the TON blockchain, this DeFi platform stands out as one of the fastest-growing networks of the past year.

Elluminex aims to strengthen the TON network by providing liquidity to it. The platform offers a decentralized exchange (DEX) that enables fast asset exchanges with low transaction fees. It also facilitates cross-chain transfers, supporting more than 40 major blockchains. These features reduce slippage while increasing liquidity.

Elluminex also offers advanced tools for investors. For example, an artificial intelligence-supported portfolio tracking tool makes decision-making easier with real-time data. Thanks to these features, Elluminex aims to become the leading DeFi platform on the TON network.

If the TON network continues to grow, Elluminex could capitalize on this success and surpass the growth of Dogecoin and XRP.