Uniswap is trading around $7, after a powerful September rally that pushed UNI roughly 38.8% higher in one week. The major catalyst is Uniswap's fee-funded UNI burn mechanism, which converts eligible protocol fees into UNI that is permanently removed from supply.

Uniswap's activity has also expanded through Robinhood Chain, while BitMEX co-founder Arthur Hayes reportedly bought 244,406 UNI worth about $1.73 million, adding another institutional-style signal to the DeFi narrative.
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