Aave, Uniswap and other DeFi tokens surge amid Trump victory in US presidential election

Decentralized finance tokens like Aave and Uniswap posted substantial gains today, with the former surging over 24% and the latter up 30% in the last 24 hours.

The price rally comes amid a significant market shift after Donald Trump’s victory in the U.S. presidential election, a political comeback that has reverberated across global markets.

Positive speculation around Aave’s price, specifically, may have been fueled by its partnership with the Trump-linked World Liberty Financial project. On Oct. 9, World Liberty Financial submitted a proposal to AaveDAO requesting approval to launch its platform as an instance on Aave V3. To deepen its integration with Aave, World Liberty Financial proposed sharing 20% of its transaction fees and 7% of its governance token supply (WLFI) with AaveDAO.

Several major DeFi projects have also posted double-digit gains following Trump's win. In addition to Uniswap and Aave’s strong performance, Maker, Compound, and Lido have risen by 11%, 12%, and 17%, respectively, according to The Block's Prices Page.

Today's global cryptocurrency market capitalization stands at approximately $2.57 trillion, reflecting an increase of over 6% in the last 24 hours, while total trading volume reached $257 billion in the same period. Currently, bitcoin accounts for 56.8% of the market, with ether dominance around 12.3%, as reported by CoinGecko data.

The price of the largest digital asset by market capitalization, Bitcoin, is changing hands above $74,300 and has traded mostly flat over the past 24 hours, according to The Block's Price Page. Meanwhile, the GMCI 30 index, representing a selection of the top 30 cryptocurrencies, has increased 8.9% over the past 24 hours to 130.76.