On the 3rd, WatcherGuru cited a K33 research report stating that decentralized crypto trading protocol Uniswap (UNI) has earned a total of $3B in transaction fees since its inception. Despite this, with UNI trading at $6, down 86% from its 2021 peak of $45, the K33 report notes that "61% of addresses held are at a loss," suggesting UNI may be one of the most undervalued cryptocurrencies. However, crypto analyst Anders Helseth argued that the $3B in fees hasn't affected UNI's price, adding that UNI tokens are primarily paid to liquidity providers, making them "worthless in the long run."

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