Let’s talk #UNI
This pullback has been fairly deep, mainly due to three factors piling up: weakness across the broader market, whales continuing to deposit funds on exchanges to cash out, and declining trading volume on Robinhood Chain.
Total protocol revenue in September was about $14.7 million, with Robinhood Chain alone contributing $7.8 million—more than half. As interest in meme coins on RH cooled, trading volume, fees, and the amount of UNI burned all declined.
But Uniswap has already captured the vast majority of the tokenized-stock AMM market. Hayden mentioned that many tokenized-stock liquidity pools on Robinhood have reached their current limits. He is preparing a comment letter to submit to the SEC, hoping regulators will ease those restrictions. In addition, OKXICE has filed with the SEC and plans to launch 63 U.S. stock tokens on X Layer using Uniswap v4 permissioned pools. When it comes to the tokenized-stock narrative, Uniswap is essentially the core infrastructure for on-chain stock-token trading.
The DEX landscape is completely different from the lending sector. Lending leader Aave is being squeezed from multiple sides by Sky and Morpho, while Compound and Euler are making a comeback and closing the gap. By contrast, Uniswap currently has almost no serious competitors.
UNI holders are highly sensitive to burn figures. As soon as interest in RH waned, the price reacted immediately; combined with news of whales cashing out, this has created heavy short-term selling pressure. However, once this pullback has played out, UNI will likely remain one of the assets with greater rebound potential.
This pullback has been fairly deep, mainly due to three factors piling up: weakness across the broader market, whales continuing to deposit funds on exchanges to cash out, and declining trading volume on Robinhood Chain.
Total protocol revenue in September was about $14.7 million, with Robinhood Chain alone contributing $7.8 million—more than half. As interest in meme coins on RH cooled, trading volume, fees, and the amount of UNI burned all declined.
But Uniswap has already captured the vast majority of the tokenized-stock AMM market. Hayden mentioned that many tokenized-stock liquidity pools on Robinhood have reached their current limits. He is preparing a comment letter to submit to the SEC, hoping regulators will ease those restrictions. In addition, OKXICE has filed with the SEC and plans to launch 63 U.S. stock tokens on X Layer using Uniswap v4 permissioned pools. When it comes to the tokenized-stock narrative, Uniswap is essentially the core infrastructure for on-chain stock-token trading.
The DEX landscape is completely different from the lending sector. Lending leader Aave is being squeezed from multiple sides by Sky and Morpho, while Compound and Euler are making a comeback and closing the gap. By contrast, Uniswap currently has almost no serious competitors.
UNI holders are highly sensitive to burn figures. As soon as interest in RH waned, the price reacted immediately; combined with news of whales cashing out, this has created heavy short-term selling pressure. However, once this pullback has played out, UNI will likely remain one of the assets with greater rebound potential.