UNI Token Price

UNI trades at $4.30 [[sql_084f34]], down 90.4% from its $44.92 all-time high set May 3, 2021 [[code_f10a05]] — an unrealized mark-to-ATH gap of roughly $37.4B in market cap [[code_f10a05]]. The token just hit a 6-month high after Uniswap activated its v4 protocol fee switch on July 27, nearly tripling protocol revenue and fueling a wave of UNI burns [1][2]. Whether this repricing closes more of the ATH gap depends on the fee switch proving durable beyond its first week.

Uniswap's P/S ratio sits at 53.1x and P/F at 2.35x [[sql_1eb372]], reflecting how thin protocol revenue ($4.2M over 30d [[sql_1eb372]]) has historically been relative to a ~$2.7B market cap [[sql_1eb372]]. Daily burn-bound revenue jumped from ~$114K to ~$325K/day after the v4 fee switch activated on July 27, with Robinhood Chain contributing roughly half of network-wide protocol revenue [1][3]. UNI is up ~54% over 30 days [[sql_1eb372]] on this catalyst, but even after the rally the token remains 90.4% below its 2021 ATH [[code_f10a05]] — the unrealized value gap for anyone still holding from the top.