CandleFocus Uniswap's UNI Token Soars 28% as Altcoins Outperform Following U.S. Presidential Election
2024-11-06
Author: Content Editor
Altcoins experienced a surge in value following the re-election of cryptocurrency-friendly GOP candidate Donald Trump. Uniswap's token (UNI) saw the largest gains, rising by 28% over a 24-hour period. Open interest for UNI also increased by 20% and reached its highest level since April 2024. Funding rates for UNI doubled, indicating anticipation of further price increases. The CoinDesk 20 Index, paced by UNI, gained 8.2% compared to bitcoin's 6% rise. Other altcoins such as Solana (SOL), Avalanche (AVAX), and ChainLink (LINK) also showed notable gains. Ripple (XRP) and Polkadot (DOT) had smaller increases. Uniswap has faced regulatory scrutiny in the past and encountered charges from the SEC and CFTC.
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