(Bloomberg) — Crypto tokens tied to trading and tokenization are surging after US regulators moved to expand digital-asset markets despite the failure of landmark crypto legislation in Congress.
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Hyperliquid’s HYPE token climbed to a record $96 on Monday, taking its market value to above $20 billion. Uniswap’s UNI has gained roughly 40% over the past week, while Avalanche’s AVAX is up about 47%, Ethena’s ENA’s up about 50% and Ondo’s ONDO rose by roughly 26%.
The gains come after the Securities and Exchange Commission last week granted a five-year exemption allowing qualifying venues to trade tokenized US stocks onchain. The move came just days after the Clarity Act…
