Crypto analyst Jamie Coutts believes Uniswap’s (UNI) proposed fee changes could be a major turning point for digital assets.
Rewarding Stakers and Delegates
Uniswap’s proposal aims to reward traders who stake and delegate UNI tokens with a share of the protocol’s revenue. This move, according to Coutts, could highlight the profitability of the digital asset industry.
Impressive Revenue
Uniswap’s revenue rivals that of some traditional stock markets, making it a prime example of the potential profitability of decentralized finance (DeFi). Coutts believes this could boost UNI’s performance relative to Bitcoin (BTC).
Uniswap vs. Traditional Exchanges
Despite its impressive revenue, Uniswap’s price-to-sales (P/S) ratio of 14x is not particularly low by traditional standards. However, it’s comparable to the CME (Chicago Mercantile Exchange), with the key difference being that Uniswap has a much smaller workforce. This means that Uniswap generates significantly more revenue per employee than the CME.
Technical Analysis
Technically, UNI has broken out of a base pattern, indicating a potential bullish trend. However, it remains to be seen whether it can outperform Bitcoin in the long run.
Current Price
At the time of writing, UNI is trading at $12.39.
