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Many people’s impression of $UNI is still stuck at: The protocol is impressive, but the coin is useless. But after v4 fee rates were enabled, Uniswap’s trading volume can finally be converted into UNI burned. On July 29 alone, 106,000 UNI were burned in a single day, and after the feature was enabled, protocol revenue briefly reached $325,000 per day. Now UNI’s market cap is only around $2.5 billion. In the next DeFi bull cycle, I’ll first look at a $5 billion–$10 billion market cap, which corresponds to about $8–$16; if v4, RWA, and on-chain stocks truly take off, $30+ isn’t out of the question. $UNI $GRVT $BICO #EarningsRealityCheck #SandiskEarningsWatch #MSTRSells1638BTC