The crypto market did well during the weekend, with Bitcoin holding steady above the key resistance at $88,000. This performance may continue this week because of the so-called Santa Claus rally.
This article explores some of the top crypto to watch this week, including Uniswap (UNI), Hyperliquid (HYPE), Aave (AAVE), Aerodrome Finance (AERO), and Aster (ASTER).
Uniswap Unification Vote and Token Burns
Uniswap, the biggest decentralized exchange network in the crypto industry, is one of the top coins to watch. Its Unification vote has started, with most people voting in favor of the proposals.
Unification will lead to a major token burn that will remove 100 million tokens from circulation. It will also merge fees from its DEX platform and Unichain, its layer-2 network, and burn it.
Other proposals are to launch aggregator hooks, focus Labs on driving protocol development and growth, and migrate governance-owned Unisocks liquidity from Uniswap V1 on mainnet to v4 on Unichain and burn the LP position.
READ MORE: Here’s Why the Crypto Market is Going Up Today: Is This a Santa Claus Rally?
HYPE Token in Focus Amid $1 Billion Burn Proposal
Meanwhile, Hyperliquid, one of the top players in the perpetual futures industry, will be a top crypto to watch this week as the community starts voting on a proposal to burn tokens worth $1 billion. This is a big amount considering that the HYPE token is now valued at $8.12 billion.
This big token burn comes at a time when Hyperliquid has continued to burn and buyback its tokens.
Data shows that the network burned 10.9k tokens in the last 7 days, bringing the annualized position to 567k. Its network bought back 1.89 million tokens worth $57 million in the last 30 days.
Aerodrome Finance to Expand to Ethereum L1
The AERO token will be one of the top crypto to watch this week as the network expands from Base to Ethereum layer-1 network.
This is important as Aerodrome Finance currently exists in the Base network, where it is the biggest player in the ecosystem.
The expansion comes as the volume in the network remains under pressure because of the ongoing crypto market crash. Its monthly volume stands at $9.26 billion this month, much lower than the $24.1 billion it handled in October.
Other Top Crypto to Watch: HUMA, Aster, and AAVE
The other top cryptocurrencies to watch this week are Huma Finance, which will unlock tokens worth millions and distribute its utility badges to stakers.
Aster will refund its token emissions on Monday, a move that will reduce its inflation, while Aave community will continue to debate on whether token holders should have control of the brand assets.
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