The crypto market performed well over the weekend, with Bitcoin holding steady above the key $88,000 resistance level. 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 trigger a major token burn, removing 100 million tokens from circulation. It will also merge fees from its DEX platform and Unichain, its layer-2 network, and burn them.
Other proposals include launching aggregator hooks, focusing Labs on driving protocol development and growth, migrating governance-owned Unisocks liquidity from Uniswap V1 on mainnet to Uniswap V4 on Unichain, and burning 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 large token burn comes at a time when Hyperliquid has continued to burn and buy back its tokens.
Data show the network burned 10.9k tokens over the last 7 days, bringing the annualized position to 567k. Its network bought back 1.89 million tokens worth $57 million over the previous 30 days.
Aerodrome Finance to Expand to Ethereum L1
The AERO token will be one of the top cryptos to watch this week as the network expands from Base to an 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 network volume remains under pressure due to the ongoing crypto market crash. Its monthly volume stands at $9.26 billion, 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. At the same time, the Aave community will continue to debate whether token holders should have control of the brand assets.
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