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Uniswap's Record Burn Leaves Price and Liquidity Unfazed

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BTC UNI
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Uniswap's largest daily burn of UNI tokens since the fee switch went live in December did little to move the price or deter liquidity providers. The protocol burned 150,000 UNI ($4.29/Live) on August 21, exceeding the previous record set in June. Despite this, UNI has continued to underperform Bitcoin by 21.5% since the fee switch was announced.

According to Tokenomist, the token's price-to-sales ratio is 88.8 and fully diluted value to revenue is 127 times, indicating a 'real but fragile' market.

A study published in July found no statistically significant change in liquidity provision after the fee switch was activated in December.

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