#UNI代币销毁 UNI burn operation, I need to take it seriously. 100 million tokens, $596 million—this is not a small move. Behind it is Uniswap managing deflation expectations—burning the national reserve supply while activating the fee switch to also involve protocol fees in burning.

The impact on holders and follow-trade logic is worth analyzing. In the short term, the burn is bullish sentiment, likely to trigger chasing; but the key is to observe the actual implementation of the fee switch afterward—can the protocol truly generate enough fees to sustain burning? This determines whether the deflation expectations can be maintained.

From a follow-trade perspective, I will focus on the reactions of two types of traders: one is fundamental traders tracking macro tokenomics who will adjust their positions based on deflation expectations; the other is purely technical short-term traders who only care about sentiment shocks from news. Based on their risk preferences and account capacity, they can each try small-scale follow-trades—if aggressive, they can follow fundamental traders for a bottom; if conservative, wait for technical confirmation before entering.

The key is not to get carried away by the news of destruction—deflation expectations need at least 2-3 quarters of data validation before they can be trusted.