DeFi Tokens Outperform Amid Broad Crypto Rally

With Donald Trump all but certain to become the next President of the United States, the decentralized finance (DeFi) sector is outperforming in anticipation of a friendlier regulatory regime under the new administration.

Decentralized exchange (DEX) Uniswap (UNI) and liquid staking leader Lido (LDO) are leading the charge, surging more than 30% in the last 24 hours. The sector as a whole is up 16%, according to CoinGecko.

Following closely are Solana DEX Raydium (RAY), synthetic dollar protocol Ethena (ENA), and DeFi’s largest lending protocol, Aave (AAVE), up between 26% and 29% on the day.

The prospects for a DeFi renaissance in the U.S. are improving, as voters have elected 247 pro-crypto candidates to the House of Representatives. Coupled with Trump’s embrace of crypto, the stage is set for the industry to finally obtain some much-needed regulatory clarity.

“Tonight, the crypto voter has spoken decisively - across party lines and in key races across the country. Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it,” tweeted Coinbase CEO Brian Armstrong.