$UNI All-circulation into a single new coin can’t be squeezed out, the ledger is clean enough that shorts can’t find the key to unlock the bomb. This valuation has me boarding—I’m going full on long. The rank is still within the top 20, yet the net worth has shrunk to around one-tenth of its all-time peak. On paper there isn’t a drop of dilution. This discount is right there; shorts are left with only the choice to accept losses. On the contract side, buyers step in and take over, pushing past sellers, while the fee rate stays pinned at the floor without burning up. The money is truly moving with actions, not slogans.