‘Most worthless crypto ever’? CIO’s jab at UNI meets signs of quiet accumulation
About 10 million UNI has been accumulated since mid-September.
Key Takeaways
Why is the community fading the UNI token?
Critics claim the protocol is successful, but with no incentives to improve the UNI token.
Will the ongoing accumulation boost UNI’s recovery outlook?
Yes, if the early 2025 scenario plays out and broader market sentiment improves.
Uniswap [UNI] is one of the most successful and oldest decentralized exchanges (DEXes). Unfortunately, UNI token holders are yet to see its massive growth, at least according to some critics.
One analyst, Ceteris, noted that UNI’s recent value of $6 was below the post-FTX implosion of $6.3 in 2022. Compared to the 2021 high of $45, the token was down 86%.
Surprisingly, its network has grown nearly sixfold over the period. Its Cumulative DEX Volume, for example, increased from about $700 billion in 2022 to over $3.3 trillion as of October 2025 – A 6X explosive growth.
And it made over $3 billion in Revenues and Fees over the past three years, according to DeFiLlama.
Will the ‘worthless’ coin recover?
In fact, the DEX recently expanded to the Solana [SOL] ecosystem, making it one of the top applications to tap into liquidity in Ethereum [ETH], Solana, Binance [BNB] Chain, and others. Yet, the impressive growth and revenue are yet to boost long-term UNI holders.
For Jeff Dorman, CIO at digital asset manager Arca, UNI is a “useless, worthless” token for failing to use its growth to improve its token value.
“You must design assets correctly with proper growth alignment & downside protection. Congrats Uniswap for creating the most useless, worthless crypto asset ever $UNI.”
Dorman believes that UNI value could improve if the team begins a token buyback program like Hyperliquid [HYPE].
Crypto analytics platform Token Terminal, however, opined that UNI could probably recover if it sees adoption from crypto treasuries.
That being said, it remains to be seen whether the token will benefit if the protocol switches the fee later in the year.
Accumulation signals amid price pressure
Meanwhile, there has been an accumulation spree as UNI extended its pullback from mid-September. If the Q1 “buy the dip” scenario plays out, the altcoin could recover in the next few weeks.
Per Santiment, about 10 million UNI have been moved off exchanges in the past 30 days of trading. This meant active accumulation during the pullback, a similar play seen in early 2025.
In fact, the altcoin surged by +120% in Q2 after the Q1 correction and accumulation period. In the meantime, $4 or $6 should be defended to raise the recovery odds.
