According to Cointelegraph, the native tokens of multiple decentralized financial protocols rose by more than 50% in November due to increased investor confidence after the US election and expectations for digital asset regulation.
According to Tie Terminal data, tokens of Curve Finance (CRV), Athena (ENA), dYdX (DYDX), and Lido (LDO) have seen the biggest gains over the past 30 days. CRV is up 120.23%, ENA is up 77.6%, DYDX is up 53.7%, and LDO is up 64.9%.
The tokens of PancakeSwap (CAKE), Uniswap (UNI) and SushiSwap (SUSHI) have also gained significantly recently: CAKE rose 53.8%, UNI rose 54.7%, and SUSHI rose 57.9%.
According to DefiLlama data, the total locked value of DeFi protocols reached $118.4 billion on November 25, the highest level in three years. Analysts pointed out that the decline in Bitcoin's market capitalization dominance has promoted more altcoin investment strategies.
Bitwise analysts attributed the trend to the news that SEC Chairman Gary Gensler was about to resign. The price of Bitcoin remained around $96,000 and failed to break through the $100,000 mark.
