Top Crypto Gainers of the Week: Which Coins are Leading the Surge?

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As a seasoned researcher with a background in crypto economics and regulatory affairs, I find myself intrigued by the current surge in altcoins following Trump’s re-election. The market seems to be betting big on a friendlier regulatory environment, and two of the biggest winners are Uniswap and AAVE.

The altcoin market is ecstatic following Donald Trump’s victory, as many believe his presidency could bring favorable conditions for the entire cryptocurrency sector, not just Bitcoin (BTC). Notably, there are significant beneficiaries spread throughout the Top 50 rankings by Brave New Coin.

Uniswap Up Bigly

As a researcher, I’ve noticed an astounding 29.8% surge in Uniswap (UNI) within the past 24 hours. The data from Coinglass points towards a substantial increase in the open interest of this asset. Open interest refers to the cumulative number of unresolved derivative contracts for assets like options or futures that remain unsettled.

An increase in OI (Open Interest) and UNI’s price indicates that investors are making optimistic, speculative wagers that UNI could be a major cryptocurrency success under the Trump administration. However, it’s important to note that Uniswap has faced scrutiny from regulatory bodies such as the SEC and CFTC in the past year. In April, Uniswap received a Wells Notice from the SEC, signaling potential future enforcement action. Moreover, in September, Uniswap Labs, the team responsible for Uniswap, agreed to pay $175,000 to settle charges by the CFTC concerning offering unlawful leveraged and margin commodities transactions.

As friendlier cryptocurrency financial regulations are expected to be rolled out by the Trump administration in the U.S., the market is optimistic that decentralized exchange Uniswap and its token, UNI, will thrive under these conditions.

AAVE Up Nearly 30% In Seven Days

As a crypto investor, I’m thrilled to see AAVE, the decentralized finance (DeFi) protocol, among the top winners in the market. This platform empowers users to lend and borrow various digital assets, offering both stable and variable interest rates. Similar to Uniswap, AAVE stands tall within its DeFi sector. Its total Assets Under Management (AUM) amounts to a staggering $14.73 billion, spread across 13 different blockchains.

The abrupt increase in the cost of prominent Decentralized Finance (DeFi) initiatives, such as blue chip projects, indicates that this industry is undergoing a reevaluation due to the possibility of a more accommodating regulatory atmosphere in America. Similarly successful DeFi blue-chip tokens, including Maker (MKR), Raydium (RAY), and Lido DAO (LDO), have also experienced growth.

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2024-11-07 19:48