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    Donald Trump’s re-election spurs gains in altcoins as Uniswap leads with significant growth

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    The re-election of Donald Trump has boosted the cryptocurrency world, particularly altcoins. Uniswap’s token (UNI) has increased by 28%, with investors now holding over 18 million UNI tokens. Expectations of a price increase have led to a doubling of Uniswap funding rates from 5% to 10%. Additionally, UNI outperformed the CoinDesk 20 Index, while other altcoins like Solana, Avalanche, and ChainLink also experienced gains. Despite potential U.S. regulatory actions, Uniswap’s performance underlines renewed altcoin market confidence after Trump’s re-election.

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    The cryptocurrency world has been given a boost with the re-election of Donald Trump. Altcoins, or alternative cryptocurrencies to Bitcoin, have performed particularly well, with a more relaxed regulatory landscape expected.

    Uniswap’s token (UNI) has seen significant success, increasing by 28% over the past day. Investors are now holding more than 18 million UNI tokens, the highest number since April 2024. Over the past 24 hours, three million UNI tokens worth over $60 million were added to investor interest.

    Investors who believe the price of UNI is going to increase are now having to pay more to keep their positions open. Funding rates for Uniswap have doubled over the past day, jumping from 5% to 10%. This movement suggests that traders are expecting the price of the cryptocurrency to continue rising.

    UNI outperformed the CoinDesk 20 Index, recording 8.2% gains when compared to Bitcoin’s 6% to land at a price of $74,600. Other noted performers include Solana (SOL) which increased by 10%, and Avalanche (AVAX) and ChainLink (LINK) both gaining approximately 8.5%. Ripple’s (XRP) and Polkadot’s (DOT) have seen less impressive success, each seeing a rise of less than 4%.

    In recent times, Uniswap has been the target of U.S. regulatory authorities, facing potential enforcement actions. Despite these challenges, the token’s impressive performance highlights renewed confidence in the altcoin market following the re-election of a crypto-friendly administration.

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