[UNI is down 90%. You ask me whether you can buy the dip? The question itself is wrong.]
It’s down 90% already—so shouldn’t you buy the dip?
After doing business for so many years, the logic I fear most is this kind. A big price drop never automatically means you should buy. If Moutai drops by half, do you think it’s cheap? You have to ask why it’s worth that much in the first place.
UNI is exactly the same situation. In just seven days it rose 28%, and trading volume is being pushed hard. Market sentiment follows the FNG to 65, which suggests people are betting on direction.
But I want to ask you one question: **Why do people think Uniswap is worth more?**
At its core, Uniswap is a DEX—it lives on trading fees. Where do those fees come from? From people actually trading. In the entire crypto market spot trading volume right now, how much share can DEX take? And what portion is Uniswap within that? If you haven’t figured these out, you dare to buy? Anyway, I wouldn’t.
Some people will say that DeFi will be huge in the future. I believe that. But “huge in the future” doesn’t mean “you should buy now.” Trends and entry timing are two different things.
The real question is: Has the value-capture logic for the UNI token changed? Can the revenue brought by V4 actually reach token holders’ pockets? Under regulatory pressure, will DEX be hit?
I haven’t seen convincing answers to these questions yet.
This doesn’t mean UNI can’t go up—when market sentiment is hot, anything can be traded. But you have to be clear about what you’re betting on: betting on regulatory relaxation, betting on a DeFi explosion, or just betting on the price.
In practice, I’ve run quite a few projects and seen too many stories of “valuation repair.” In the end, how many actually got repaired for real?
For this round of the market, I choose to watch from the sidelines first. Let UNI give me a clear value anchor, and then we can talk about the rest.
What do you think about this move in UNI—real logic, or just pure speculation?
It’s down 90% already—so shouldn’t you buy the dip?
After doing business for so many years, the logic I fear most is this kind. A big price drop never automatically means you should buy. If Moutai drops by half, do you think it’s cheap? You have to ask why it’s worth that much in the first place.
UNI is exactly the same situation. In just seven days it rose 28%, and trading volume is being pushed hard. Market sentiment follows the FNG to 65, which suggests people are betting on direction.
But I want to ask you one question: **Why do people think Uniswap is worth more?**
At its core, Uniswap is a DEX—it lives on trading fees. Where do those fees come from? From people actually trading. In the entire crypto market spot trading volume right now, how much share can DEX take? And what portion is Uniswap within that? If you haven’t figured these out, you dare to buy? Anyway, I wouldn’t.
Some people will say that DeFi will be huge in the future. I believe that. But “huge in the future” doesn’t mean “you should buy now.” Trends and entry timing are two different things.
The real question is: Has the value-capture logic for the UNI token changed? Can the revenue brought by V4 actually reach token holders’ pockets? Under regulatory pressure, will DEX be hit?
I haven’t seen convincing answers to these questions yet.
This doesn’t mean UNI can’t go up—when market sentiment is hot, anything can be traded. But you have to be clear about what you’re betting on: betting on regulatory relaxation, betting on a DeFi explosion, or just betting on the price.
In practice, I’ve run quite a few projects and seen too many stories of “valuation repair.” In the end, how many actually got repaired for real?
For this round of the market, I choose to watch from the sidelines first. Let UNI give me a clear value anchor, and then we can talk about the rest.
What do you think about this move in UNI—real logic, or just pure speculation?