The burn data for $UNI can also be seen as a barometer of the on-chain market.
The more active the market, the more protocol revenue Uniswap typically generates, which in turn drives UNI buybacks and burns.
So far this year, around 12.78 million UNI have been burned through the protocol fee mechanism.
Although the amount burned isn’t a perfect measure of trading activity, tracking it over the long term offers another way to gauge the temperature of the on-chain market.
Data: https://defiburn.com
The more active the market, the more protocol revenue Uniswap typically generates, which in turn drives UNI buybacks and burns.
So far this year, around 12.78 million UNI have been burned through the protocol fee mechanism.
Although the amount burned isn’t a perfect measure of trading activity, tracking it over the long term offers another way to gauge the temperature of the on-chain market.
Data: https://defiburn.com