In a bear market, it’s all about development; in a bull market, it’s all about revenue.

Recently, Uniswap V4 delivered an impressive result: in a single week, protocol fee revenue reached $15.2 million.

Many people look down on UNI because it doesn’t rise; they think its performance is disappointing.

But you need to distinguish one thing: coin prices are emotion, while protocol revenue is the real fundamental.

This year, Uniswap has already cumulatively repurchased and burned about $28.4 million worth of UNI.

When market conditions improve and trading volume further explodes, the repurchase strength will keep increasing, and the flywheel effect will kick in.

The market has always been like this—during the bottom phase, there are bearish voices everywhere.

When the market finally turns around, most people become aware too late and chase the price higher.

DeFi protocols that can truly survive bull and bear cycles are not driven by hype narratives.

Instead, it comes from a steady stream of real transaction-fee cash flow.

The V4+ real-world asset (RWA) narrative layered on top still means the UNI story hasn’t ended yet.

Do you think UNI can break out of an inverted/upswing reversal行情 next?👇

#UNI #Uniswap #DeFi #Crypto market fundamentals