Summary

Altcoins saw remarkable gains after Donald Trump, known for a crypto-friendly stance, secured another term in office. This led to a significant rally in the cryptocurrency market.

Market Performance

The biggest gainer was Uniswap's (UNI), which surged 28% in the past 24 hours. The open interest (OI) for UNI has also seen a 20% increase recently, with over 18 million UNI tokens ($169 million) now involved in OI contracts, marking a new high since April.

UNI soars following election

Regulatory Outlook

The election results have led to speculation that UNI might be one of the key beneficiaries of a potential regulatory shift in the U.S. market, according to David Lawant from FalconX. He remarked, "It’s hard to think how the election outcome could have landed better for the industry, and expectations of key regulatory improvements are likely to build in the coming months and quarters."
"UNI is potentially one of the main beneficiaries of a regulatory unlock in the U.S."
— David Lawant, Head of Research at FalconX

Further Developments

The overall market was buoyed by positive trends in the CoinDesk 20 Index, which saw an increase of 8.2%. Bitcoin itself grew by 6% to $74,600. Other significant movers included Solana's (SOL) and Avalanche's (AVAX) tokens, each showing notable increases.

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For more insights, read:

• Trump's Triumph Is Also Crypto's: Gensler, Regulatory Clouds Likely to Vanish
  Decentralized finance tokens are leading in progress, with advancements tracked daily across the industry.