DeFi firms have feared implementing “value accrual mechanisms” for their tokens under the SEC’s oversight — but that could change with president-elect Donald Trump.
Decentralized finance tokens rallied over 30% as traders expect the Trump administration to strengthen the “investment appeal” of holding “utility” tokens, according to an industry analyst.
UNI was one of the biggest winners across Nov. 6 and 7 — increasing over 35% to a local high of $9.58 — while Lido DAO (LDO), Ethena (ENA), AAVE and Maker (MKR) increased well over 20% from their local lows to highs, CoinGecko data shows.
“Until recently, DeFi tokens have been largely labeled as ‘useless governance tokens,’ tokens which serve no value other than voting on protocol changes via governance voting rights,” explained Charlie Sherry, head of finance and cryptocurrency analyst at BTC Markets, in comments to Cointelegraph.
