Altcoins Surge as SEC Exemption Fueled Uniswap's 31% Jump
The crypto market is experiencing a surge in altcoins, led by Uniswap, NEAR Protocol, Hyperliquid, and Zcash. While Bitcoin gained around 2.6% to $78,200, these four assets have seen double-digit daily gains. Uniswap jumped over 31%, while NEAR Protocol rose 26%.
The increase in altcoins is attributed to several factors. Uniswap's tokenized U.S. stocks exemption from the SEC has led to a boost in trading volume and protocol fees, causing its price to more than triple since July. Hyperliquid's on-chain perpetual futures access through Kraken's Bitnomial platform is also contributing to its growth.
Zcash's recent investment by crypto venture firm Paradigm and its adoption of faster block times are also supporting its price increase. The EU's plan to ban privacy coins in 2027 does not seem to be affecting investors, with many opting for riskier assets like altcoins.