Uniswap's UNI Token Soars 28% as Altcoins Outperform Following U.S. Presidential Election

Uniswap's (UNI) saw a gain of 28% following Donald Trump's victory, indicating strong market confidence in altcoins due to a favorable regulatory outlook.

Open interest for UNI surged by 20% in a day, reaching 18 million tokens, the highest since April 2024, reflecting increasing trader enthusiasm.

The funding rates for UNI doubled from 5% to 10%, suggesting that traders expect further price increases amid a generally positive market environment.

Notable altcoin gains include SOL up 10% and LINK climbing approximately 8.5%, while BTC only rose 6%, showing altcoin strength in the current market.

Read at Coindesk