On December 22, the Uniswap community's proposal to "burn 100 million UNI" was passed unanimously ahead of schedule, with a support rate close to 100%! This is no small matter. After a 2-day lock-up period, 100 million UNI will be burned, the Mainnet fee switch will be activated, and in the future, some transaction fees will continue to be burned. A deflationary move is coming, and the circulating UNI will decrease!

Stimulated by this expectation, the UNI price surged on the 20th, reaching a high of $6.5, an increase of about 25% in just a few days, currently fluctuating around $6.16. A giant whale, with keen senses, opened a 10x leveraged long position at an average price of $5.2 on the 19th, already floating a profit of $870,000, with a return rate of over 150%, and has not yet closed the position.

On the technical front, in the 4-hour K-line chart, the price is firmly above the key level of 6.206, with a golden cross of the yellow and white lines, and there are signs of a breakthrough in volume. The upper resistance is at 6.425 and 6.740 - 6.800, while the lower support is at 6.000 and 5.370.

Musen feels that the news and technical aspects resonate, with short-term sentiment and funds leaning towards optimism. However, as we approach a resistance level, there may be some short-term adjustments and fluctuations. I will continue to monitor on-chain dynamics and announce the entry time and news in the village. Everyone should operate calmly and steadily make profits together!