CandleFocus DeFi bolts highe as America elects Trump
2024-11-06
Author: Content Editor
After it was confirmed that Donald Trump had secured multiple paths to the White House, the prices of Bitcoin and DeFi altcoins surged. The top 100 DeFi coins saw a 14% increase in their prices within 24 hours, with tokens like Chainlink, Uniswap, CoW Protocol, Aave, LidoDAO, and Maker recording double-digit increases. CoW Protocol had the largest daily gain at 84%, while UNI and Aave grew nearly 30%. This increase in DeFi tokens mirrored a broader boom in crypto prices, with Bitcoin reaching a new all-time high of $75,000 and Ethereum edging towards $3,000. The anticipation of crypto-friendly regulation and clear digital asset rules under Trump's administration likely contributed to the surge in DeFi tokens. However, experts believe that volatility may continue until further action is taken by the Federal Reserve and institutional investors gain more certainty.
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