#数字资产市场动态 1 billion UNI tokens were gone in one go, and the market cap shrank by nearly $600 million. The voting results showed 99.9% in favor, but what’s the outcome? The price remains the same, oscillating narrowly between $5.8 and $5.9.

From a candlestick perspective, on the four-hour chart, UNI still has upward momentum. $7 is a good target, and if it drops, $5.6 can serve as support. However, with options expiration and holiday effects happening simultaneously, the probability of a clear direction in the short term is low, and consolidation is more likely.

On the other hand, the protocol fee switch is now turned on. In the future, 5% to 10% of tokens will be bought back and burned annually through this mechanism, which sounds quite good. But there’s a practical issue—if funds don’t keep flowing in and trading activity doesn’t pick up, even the most impressive burn plan is just a numbers game and won’t have a real impact.

The core question is quite straightforward: Is this round of burning truly a reflection of the market’s confidence in the project’s value, or is it just a short-term hype-driven price pump? After the lock-up period ends on the 28th, we may see the true future direction of UNI.