Uniswap Doubled After We Said the Market Was Being Slow, and the Burn Rate Explains Why

Quick Take 1. UNI trades at $6.5565, up 4.03% on the day, roughly 91% above the $3.43 level at which this site argued in August that the market had not priced Uniswap’s live fee switch. 2.

Founder Hayden Adams said on September 9 that the seven-day annualized UNI burn rate crossed $250 million, up from about $200 million days earlier, with a separate reading near $263 million. 3.

The driver is Robinhood Chain volume, including a record $1.3 billion single-day DEX session that Uniswap captured most of, which converts directly into fees and therefore into burns. Uniswap has roughly doubled in a month while the broader market went nowhere.

UNI trades at $6.5565, up 4.03% on the day, on a session where 71 of the QC 100 constituents declined and Bitcoin sits 1.87% lower on the week at $76,863.90. Live price data via CoinGecko. What did this site say about Uniswap in August?