DeFi bolts highe as America elects Trump

Bitcoin and DeFi altcoin prices rose after it was revealed that Donald Trump had secured multiple paths to the White House.

Decentralized finance token prices surged over 14% in 24 hours as crypto industry leaders celebrated Trump’s victory as the 47th US president. According to CoinGecko, the top 100 DeFi coins by market cap have gained over $78 billion, with pioneers such as Chainlink (LINK), Uniswap (UNI), CoW Protocol (COW), Aave (AAVE), LidoDAO (LDO), and Maker (MKR) . ) recorded double-digit increases.

CoW Protocol’s 84 percent rise was the biggest daily gain, while UNI and Aave grew nearly 30 percent as crypto investors took a victory lap following Trump’s victory.

The DeFi rally reflected a broader rise in crypto prices fueled by the victory of a candidate perceived as pro-Bitcoin and pro-blockchain. Bitcoin (BTC) surpassed its all-time high of $75,000 as the cryptocurrency’s largest token. Ethereum (ETH) has surged 6.8% towards $3,000, while Solana (SOL) has gained 13%, pushing the coin closer to $200.

The industry’s expectations of crypto-friendly regulation and clear digital asset rules under the Trump administration likely spurred relief for DeFi tokens. Securities and Exchange Commission Firing Chairman Gary Gensler was one of Trump’s calling cards when he resorted to blockchain voting blocs during the campaign.

More than 40 million Americans have invested in cryptocurrencies. But local interest in blockchain assets has done little to ease multi-institution pressures. For example, SEC chairman Gensler has initiated several enforcement actions against digital asset operators for alleged non-compliance.

As DeFi and crypto markets rally on the prospect of easing regulatory scrutiny, experts point to additional factors that could fuel a prolonged bull market.

TYMIO founder Georgii Verbitskii predicts more market activity following Trump’s victory but expects volatility to increase until next step from the Federal Reserve. Sharing his insights with crypto.news on October 6, Verbitskii noted that market volatility may continue until institutional investors and crypto ETF participants gain more certainty.

Another important development to pay attention to is the interest rate decision that the Federal Reserve is scheduled to make this week. The fact that no major player takes a new position until the election and the Fed’s interest rates are determined means that the fluctuation in the market may continue.

Georgii Verbitskii, founder of TYMIO