How high could UNI go in a bull market? I’ve been holding UNI for a while, so here are my thoughts!
As of October 20, approximately 113.2 million UNI have been burned in total.
There are two key points:
- Approximately 100 million UNI were burned from the treasury in a one-time event; this won’t happen every year.
- What truly determines the long-term deflationary impact is the ongoing burning funded by protocol fees. Official documentation confirms that, starting in December 2025, protocol fees will be used to burn UNI through the relevant mechanism.
UNI is currently priced at $7.2, with a circulating supply of approximately 625 million UNI.
UNI’s advantage is that it is the governance token of a leading decentralized exchange protocol, and it now has a clearer fee-burning mechanism.
When the bull market arrives, I think UNI could follow three potential paths:
1. A moderately strong bull market — $12–18
About 1.7–2.5 times the current price, corresponding to a circulating market cap of approximately $7.5–11.2 billion.
Conditions: The broader market strengthens, DeFi trading volume recovers, and the burn mechanism continues to operate.
2. A strong bull market — $20–30
About 2.8–4.1 times the current price, corresponding to a circulating market cap of approximately $12.5–18.7 billion.
Conditions: Capital rotates noticeably into DeFi, fee burns increase, and the market recognizes UNI’s value-capture potential.
3. An extremely strong market, challenging its all-time high — $35–45
About 4.8–6.2 times the current price, corresponding to a circulating market cap of approximately $21.9–28.1 billion.
Conditions: The overall crypto market enters a strong phase, leading DeFi assets attract significant interest, and UNI’s growth story is fully priced in.
The meme coin boom wouldn’t be possible without Uniswap. What do you think?
As of October 20, approximately 113.2 million UNI have been burned in total.
There are two key points:
- Approximately 100 million UNI were burned from the treasury in a one-time event; this won’t happen every year.
- What truly determines the long-term deflationary impact is the ongoing burning funded by protocol fees. Official documentation confirms that, starting in December 2025, protocol fees will be used to burn UNI through the relevant mechanism.
UNI is currently priced at $7.2, with a circulating supply of approximately 625 million UNI.
UNI’s advantage is that it is the governance token of a leading decentralized exchange protocol, and it now has a clearer fee-burning mechanism.
When the bull market arrives, I think UNI could follow three potential paths:
1. A moderately strong bull market — $12–18
About 1.7–2.5 times the current price, corresponding to a circulating market cap of approximately $7.5–11.2 billion.
Conditions: The broader market strengthens, DeFi trading volume recovers, and the burn mechanism continues to operate.
2. A strong bull market — $20–30
About 2.8–4.1 times the current price, corresponding to a circulating market cap of approximately $12.5–18.7 billion.
Conditions: Capital rotates noticeably into DeFi, fee burns increase, and the market recognizes UNI’s value-capture potential.
3. An extremely strong market, challenging its all-time high — $35–45
About 4.8–6.2 times the current price, corresponding to a circulating market cap of approximately $21.9–28.1 billion.
Conditions: The overall crypto market enters a strong phase, leading DeFi assets attract significant interest, and UNI’s growth story is fully priced in.
The meme coin boom wouldn’t be possible without Uniswap. What do you think?