UNI Token Drops 5.75% Amid 100 Million Burn, Protocol Fee Activation, and High Trading Volume

UNIUSDT experienced a notable price decrease of 5.75% over the past 24 hours, with the current price at 5.868 on Binance. This decline follows recent volatility triggered by the approval and impending implementation of the Uniswap "UNIfication" governance proposal, which authorizes a 100 million UNI token burn and the activation of protocol fees to further reduce supply. While these developments initially drove positive momentum, resulting in price surges earlier in the week, the market has since entered a period of consolidation as traders react to profit-taking and shifting sentiment around key resistance levels. Trading volume remains high, with Binance reporting 24-hour volumes of 7.81 million UNI (48.25 million USDT), and the market capitalization for UNI is estimated between $3.11 billion and $3.93 billion. Recent price action has ranged from a high of 6.42 to a low of 5.91, and investors are closely monitoring technical levels for signs of further direction as the governance changes take effect.