Impact of Trump’s Election Victory on Crypto Markets

Prominent DeFi altcoin projects such as Aave and Uniswap experienced a huge increase in their values ​​following this election victory.
 Impact of Trump’s Election Victory on Crypto Markets
READING NOW Impact of Trump’s Election Victory on Crypto Markets

Impact of Trump’s Election Victory on Crypto Markets

Donald Trump’s victory in the presidential elections in the United States caused significant fluctuations not only in the political arena but also in the financial markets. This victory created significant momentum in the decentralized finance (DeFi) ecosystem. Prominent DeFi projects such as Aave and Uniswap made huge gains following this election result.

The Rise of Aave and Uniswap

Aave and Uniswap showed significant increases in value following Donald Trump’s victory. The rise in Aave’s price could be linked to its potential partnership with World Liberty Financial, a Trump-related project. This project has the potential to increase Aave’s influence in the DeFi space. While Aave’s price increased by over 24% in the last 24 hours, Uniswap also increased by nearly 30%. This price rally is a direct result of the political changes in global markets after Trump won the election.

World Liberty Financial and Aave Partnership

On October 9, World Liberty Financial submitted a request to AaveDAO for approval to launch its platform as an instance on Aave V3. This offering could help Aave establish a broader footprint in the DeFi space. In order to deepen its integration with Aave, World Liberty Financial has proposed sharing 20% ​​of transaction fees and 7% of its governance token supply (WLFI) with AaveDAO. Such partnerships contribute to the growth and adoption of DeFi projects, creating new opportunities for investors.

General Rise in the Cryptocurrency Market

Following Trump’s victory, many major DeFi projects saw double-digit gains. In addition to Uniswap and Aave, projects such as Maker, Compound and Lido also experienced an increase of 11%, 12% and 17% respectively. Today’s global cryptocurrency market cap stands at approximately $2.57 trillion, an increase of more than 6% in the last 24 hours. In the same period, total transaction volume reached 257 billion dollars. According to CoinGecko data, Bitcoin accounts for 56.8% of the market, while Ethereum (ETH) dominance remains at approximately 12.3%.

The Status of Bitcoin and Other Crypto Assets

According to market data, Bitcoin’s price continues to trade above $74,300 and has remained broadly stable over the past 24 hours. Bitcoin, which is a leader in cryptocurrency markets, is considered a safe haven for investors. In addition, the GMCI 30 index, which represents the top 30 cryptocurrencies, increased by 8.9% in the last 24 hours to 130.76. This increase is an indicator of the positive mood in the overall cryptocurrency market.

The Future of DeFi

Decentralized finance (DeFi) is one of the most popular areas of cryptocurrencies. DeFi provides financial services using smart contracts, replacing banks and other intermediaries. These automatically enforceable contracts enable more transparent, faster and more reliable transactions using blockchain technology. The growth of the DeFi ecosystem offers new opportunities for investors and has the potential to transform the traditional financial system.

Conclusion

Donald Trump’s victory in the presidential elections is not only a political change, but also an event that led to significant transformations in financial markets. While DeFi projects such as Aave and Uniswap have achieved great profits in this process, they give promising signals for the future of the cryptocurrency ecosystem. DeFi stands out as an area that has the capacity to offer new generation financial services by pushing the boundaries of traditional finance.

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