- UNI advance is hovering around 8.2% in gains. Astonishingly, it has surpassed the total amount of gains by Bitcoin, i.e., 6%.
- The regulators of the United States have so far targeted Uniswap in the last few months.
- According to the data from Coinalyze, about 18 million UNI tokens worth about $169 million are now in OI contracts.
On November 6, Donald Trump made his direct way to the White House for another term with an outstanding win. Excited by Trump’s win, altcoins were the ones who benefited the most.
Uniswap (UNI), a decentralized crypto exchange has gained the biggest margin and was 22% up in the last 24 hours. The number of open positions over derivative exchange’s trading pairs has increased by around 27% in the last 24 hours.
The funding rate of UNI has also seen a significant increase following the U.S presidential election.
What’s there in the OI contracts?
According to the data from Coinalyze, about 18 million UNI tokens worth about $169 million are now in OI contracts, the highest amount since April 2024. OI over the last day has witnessed a surge of worth more than $142.8 million. Before this, this kind of increase in OI was witnessed in April 2024. CoinAlyze has also reported the liquidations in the last 24 hours which accounts for about $3.2 million.
Talking about the data, UNI advance is hovering around 8.2% in gains. Astonishingly, it has surpassed the total amount of gains by Bitcoin, i.e., 6%. Some other tokens such as Solana is 10% up and a whopping 8.5% surge in Avalanche’s (AVAX) and Chainlink’s (LINK). Some other tokens that have not performed well are XRP as well as DOT, which have not risen over 4%.
Target of the U.S SEC
The regulators of the United States have so far targeted in the last few months, as in April 2024, it received the Wells Notice from the Securities and Exchange Commission as an enforcement action.
After this, in September 2024, the platform was accepted to settle the dispute by paying an amount of $175,000 and has resolved the charges of the Commodity and Futures Trading Commission. The charges were of offering illegal leveraged as well as margined commodities transactions.
David Lawant, the head of research at FalconX has quoted that Uniswap is among the leading beneficiaries of a regulatory unlock in the United States. He further went on to say that, it is not easy to think of such election results being more better for this industry. At the same time, the anticipation of major regulatory changes will possibly be made in the coming weeks or months.
At the press time, UNI is trading around $9.19 and is 8.01% up in the last 24 hours. At the same time, it has a volume (24h) of about $1.16 billion having a total of market capitalization of $5.51 billion.
