$UNI Uniswap (DEX) generated $709,000 in protocol revenue over the past 24 hours, about 2.8 times its usual daily average ($249,000).
How to interpret this: Protocol revenue is what the protocol keeps after paying out shares to LPs and others. An increase suggests that paid usage is growing.
Whether this is a turning point depends on two things: first, whether revenue can stay above baseline over the next few days; and second, whether this spike was driven by a one-off factor, such as large liquidations. Which direction do you think is more likely?
How to interpret this: Protocol revenue is what the protocol keeps after paying out shares to LPs and others. An increase suggests that paid usage is growing.
Whether this is a turning point depends on two things: first, whether revenue can stay above baseline over the next few days; and second, whether this spike was driven by a one-off factor, such as large liquidations. Which direction do you think is more likely?
