$UNI This valuation gap is becoming more and more interesting the more I look at it lately.
Based on the current data, UNI’s FDV is roughly $8.6B, and the protocol revenue over the past 7 days is about $3.07M.
Then look at HYPE: its FDV is already over $90B, and its 7-day revenue is about $14M+.
The market cap difference is close to 10x, but the gap on the revenue side isn’t as wildly exaggerated as people might imagine.
I’m not saying UNI has to be compared directly to HYPE. I just think that when the market is pricing UNI, it may still be looking at it through the lens of an old-school DEX.
But now, $UNI is starting to touch something bigger: on-chain financial infrastructure.
If in the future more things like U.S. stocks, funds, and RWA really start moving onto the chain, then someone has to handle the demand for trading, exchanging, market making, and liquidity, right?
And Uniswap just happens to be in exactly that position.
Even more interesting, the SEC has just issued a 5-year innovation exemption, allowing eligible Tokenized Securities Venues to trade tokenized U.S. stocks using permissioned AMMs and liquidity pools.
The SEC did not specifically name $UNI , and that point has to be made clear.
But the problem is that Uniswap has already built the permissioned pools setup in advance.
So my current real FOMO isn’t about how much UNI is up today.
It’s about this: if, in the future, on-chain trading of stocks, funds, bonds, and more financial assets really starts to take off, will the DEX leader that everyone sees today become the next-stage leader in on-chain financial infrastructure?
Only then would it be interesting to look back at the FDV from now.
Plus, UNI still has the value-capture logic of protocol revenue and token burn.
The story keeps getting bigger, yet the price hasn’t even returned to the previous high.
At this point, tell me—how could I not stay bullish?
#UNI #Uniswap #RWA #DeFi
Based on the current data, UNI’s FDV is roughly $8.6B, and the protocol revenue over the past 7 days is about $3.07M.
Then look at HYPE: its FDV is already over $90B, and its 7-day revenue is about $14M+.
The market cap difference is close to 10x, but the gap on the revenue side isn’t as wildly exaggerated as people might imagine.
I’m not saying UNI has to be compared directly to HYPE. I just think that when the market is pricing UNI, it may still be looking at it through the lens of an old-school DEX.
But now, $UNI is starting to touch something bigger: on-chain financial infrastructure.
If in the future more things like U.S. stocks, funds, and RWA really start moving onto the chain, then someone has to handle the demand for trading, exchanging, market making, and liquidity, right?
And Uniswap just happens to be in exactly that position.
Even more interesting, the SEC has just issued a 5-year innovation exemption, allowing eligible Tokenized Securities Venues to trade tokenized U.S. stocks using permissioned AMMs and liquidity pools.
The SEC did not specifically name $UNI , and that point has to be made clear.
But the problem is that Uniswap has already built the permissioned pools setup in advance.
So my current real FOMO isn’t about how much UNI is up today.
It’s about this: if, in the future, on-chain trading of stocks, funds, bonds, and more financial assets really starts to take off, will the DEX leader that everyone sees today become the next-stage leader in on-chain financial infrastructure?
Only then would it be interesting to look back at the FDV from now.
Plus, UNI still has the value-capture logic of protocol revenue and token burn.
The story keeps getting bigger, yet the price hasn’t even returned to the previous high.
At this point, tell me—how could I not stay bullish?
#UNI #Uniswap #RWA #DeFi