- Donald Trump's victory propelled crypto markets, with Bitcoin reaching a new ATH of $76,243.
- Decentralized finance (DeFi) tokens have exploded, with some seeing increases of 30% in 24 hours.
The return of DeFi. Following the election of Donald Trump to the presidency of the United States, crypto markets have recorded a significant increase. Thus, the Bitcoin reached a new ATHleaving one dreaming of a bull run. At the same time, many decentralized finance protocol tokens outperformed during this rise.
DeFi tokens explode by 30%
Last night, the price of Bitcoin reached a new ATH by reaching the 76 243$. Obviously, Bitcoin has brought other cryptocurrencies with it in its rise.
So, ETH recorded an increase of 7%passing the $2,800 mark, however still far from its ATH of $4,800.
However, it is not these cryptocurrencies that have performed the best. Indeed, a multitude of DeFi protocol tokens saw surges of up to 30%.
Athena and its ENA token lead the way after recording a increase of 32% over the last 24 hours, going from $0.4 to $0.54.
We then find the LDO of Lido, which for its part recorded a 20% increasefollow up of Aave and its 18.2% increase over the last 24 hours.
On the Solana side, the token RAY of the exchange platform Raydium witnessed a 35% increase of its price over the last 24 hours, which allows it to total an increase of 63% over the past week. This makes RAY the best performing token this week.
The origin of the increase
Obviously, this increase can mainly be attributed to the political victory of Donald Trump. Indeed, throughout his campaign, the latter has continued to hold pro-crypto positions.
Interviewed by our colleagues at Cointelegraph, Charlie Sherry, head of finance and analyst at BTC Markets, declared that the market would be in the process of integrating the potential regulatory changes to come.
“Markets are now integrating the planned regulatory change and expecting a more favorable environment for DeFi projects and their tokens. »
Indeed, the election of Donald Trump could lead to changes within the SEC. In particular via the resignation of its current president, Gary Gensler.
A new SEC chairman could be named by April or May 2025, according to 10xresearch.
“If these historical trends continue, Gary Gensler could resign in December or January, and a new SEC chairman could be confirmed in April or May. »
However, the Trump administration will face many anti-crypto adversaries. Thus, the anti-Bitcoin senator Elisabeth Warren was re-elected in Massachusetts and will be a major opponent in the crypto field.
Related News :