$UNI 7 American dollars are almost getting out of control😭, within 24 hours -10.3%. Yesterday’s 8-yuan support was poked and it broke.
I looked through the news flow—there’s nothing particularly bad about the protocol itself. The burn is still going: about 38,000 UNI per day goes into the “black hole,” which is only 0.006%. That doesn’t really translate into price.
This round is more like the whole market is bleeding pressure. After the FOMC meeting minutes were released, sentiment stayed kind of cowardly. In one night, the entire internet blew up more than 600 million orders. Even BTC is hovering around the 83,000 area. For high-beta DeFi, when it drops, it falls harder than the broader market by another couple of notches.
On the bright side, UNI futures on the CME are scheduled to launch on October 19. After that, volatility will only get bigger. I’ll stay disciplined on days like this—I’m not going to go all in.
$UNI #Market Analysis
I looked through the news flow—there’s nothing particularly bad about the protocol itself. The burn is still going: about 38,000 UNI per day goes into the “black hole,” which is only 0.006%. That doesn’t really translate into price.
This round is more like the whole market is bleeding pressure. After the FOMC meeting minutes were released, sentiment stayed kind of cowardly. In one night, the entire internet blew up more than 600 million orders. Even BTC is hovering around the 83,000 area. For high-beta DeFi, when it drops, it falls harder than the broader market by another couple of notches.
On the bright side, UNI futures on the CME are scheduled to launch on October 19. After that, volatility will only get bigger. I’ll stay disciplined on days like this—I’m not going to go all in.
$UNI #Market Analysis