UNI (Uniswap) down 0.62% in 24 hours, trading volume exceeds $1.9 billion

Gate News Bot message, November 12th, according to CoinMarketCap data, as of press time, UNI (Uniswap) is trading at $8.42, down 0.62% in the past 24 hours. The highest price reached $10.05, and the lowest dropped to $5.13. The 24-hour trading volume is $1.917 billion. The current market capitalization is approximately $5.31 billion, a decrease of about $32.99 million from yesterday.

Recent important news about UNI:

1️⃣ Uniswap Proposes Major Governance Initiative
Uniswap founder Hayden Adams has proposed a key governance proposal to enable the protocol fee switch and burn 100 million UNI tokens. The proposal is expected to complete the governance process and take effect in about 22 days. This move is anticipated to buy back and burn approximately $460 million worth of UNI annually, resulting in an annual deflation rate of about 5%, which could significantly enhance UNI’s token economic model.

2️⃣ Protocol Revenue Potential Emerges
The Uniswap protocol generates up to $99.3 million in fees per month for liquidity providers. If the fee switch is activated, it is expected that $10 million to $16.6 million per month will be directly distributed to UNI holders. This shift in revenue model gives UNI real cash flow support for the first time, moving DeFi from a narrative-driven to a profit-driven industry.

3️⃣ Trading Volume Hits Record High
Uniswap v4’s trading volume surpasses $200 billion, reflecting continued growth in platform activity. This milestone confirms Uniswap’s dominant position in the DEX market and indicates that demand for decentralized trading is rapidly increasing.

From a technical perspective, UNI’s price has experienced a significant short-term rally, breaking through multiple key resistance levels. However, after a rapid surge, there may be short-term correction risks. Fundamentally, the protocol revenue model transformation could lead to a long-term valuation re-assessment, but the actual impact remains to be further observed.

This message is not investment advice; please be aware of market volatility risks.