The UNI burn mechanism continues to ferment. Recently, another wave of burns removed 4,000 tokens, bringing the total burned amount to over 100 million, with an exact figure of 100,257,579 tokens. The total circulating UNI has now decreased to 899,742,421 tokens, a number that shrinks daily.

From a market perspective, burning has indeed changed the token supply structure. Many claim that large unlocks or major sell-offs will hedge against the burn effect, but where is the real evidence? These predictions appear pale in comparison to the actual on-chain data. Burning is transparent; every transaction can be verified. However, those so-called bearish arguments seem to remain only verbal.

Can UNI’s reduction model support the price? Time will tell. But one thing is certain—the changes in circulating supply are indeed altering the market’s supply and demand balance. Burning continues, and debates will go on. Data speaks for itself; everything else is speculation.