Annualized token burns have shrunk by more than $30 million. Based on rolling 30-day data, UNI’s annualized burn has slid from over $190 million to around $158 million, and the daily burn rate continues to fall.
The deflationary expectations behind this rally were fueled entirely by the on-chain meme frenzy burning tokens at a furious pace. Once the frenzy cooled, that momentum collapsed almost immediately.
You can’t judge deflation by the slogans shouted at the peak—you have to look at what remains after the tide goes out. When the consumption of tokens with real monetary value slows this fast, the so-called deflationary moat becomes a castle in the air, with nothing to support the current valuation pressure.
#UNI
👇
The deflationary expectations behind this rally were fueled entirely by the on-chain meme frenzy burning tokens at a furious pace. Once the frenzy cooled, that momentum collapsed almost immediately.
You can’t judge deflation by the slogans shouted at the peak—you have to look at what remains after the tide goes out. When the consumption of tokens with real monetary value slows this fast, the so-called deflationary moat becomes a castle in the air, with nothing to support the current valuation pressure.
#UNI
👇
