$UNI Can UNI break $45 this cycle? Here’s the honest take.
Let’s get straight to the answer. Based on UNI’s current fundamentals and protocol revenue, I don’t see it reaching a new all-time high. But breaking above its previous cycle high of $20? That’s вполне possible.
In 2021, UNI rose to $45 largely on market sentiment and the bull-market premium; fundamentals mattered much less. Once the bull market faded and investors started looking again at protocol revenue, valuation, and the token’s actual value, it became clear that the price had priced in a lot of expectations.
This isn’t just a UNI problem. Established DeFi projects like AAVE, MakerDAO, and Compound still haven’t broken their respective all-time highs.
How high prices rise in a bull market depends on sentiment and expectations; whether they can hold up in a bear market depends on fundamentals. Even being a market leader doesn’t guarantee a return to an all-time high. In the long run, the key to reaching a higher valuation is whether the protocol can grow sustainably, increase revenue, and enable its token to capture real value.
#美国9月PPI年率升至6.3%
Let’s get straight to the answer. Based on UNI’s current fundamentals and protocol revenue, I don’t see it reaching a new all-time high. But breaking above its previous cycle high of $20? That’s вполне possible.
In 2021, UNI rose to $45 largely on market sentiment and the bull-market premium; fundamentals mattered much less. Once the bull market faded and investors started looking again at protocol revenue, valuation, and the token’s actual value, it became clear that the price had priced in a lot of expectations.
This isn’t just a UNI problem. Established DeFi projects like AAVE, MakerDAO, and Compound still haven’t broken their respective all-time highs.
How high prices rise in a bull market depends on sentiment and expectations; whether they can hold up in a bear market depends on fundamentals. Even being a market leader doesn’t guarantee a return to an all-time high. In the long run, the key to reaching a higher valuation is whether the protocol can grow sustainably, increase revenue, and enable its token to capture real value.
#美国9月PPI年率升至6.3%