Last night's announcement of destroying 100 million UNI indeed caused a stir in the community, but the answer given by the market this morning was quite embarrassing—prices are still bouncing around near 5.8U.

"Deflation shock"? Not seen.

On-chain data shows: the amount destroyed is indeed large, but the net liquidity hardly moved. What does this phenomenon indicate? The market has already digested this positive news. Expectations were already priced in before the announcement was made.

From a technical perspective, UNI is still struggling within the 5.6-6.5 range, and it’s not breaking out anytime soon. The project team’s plan sounds perfect—5-10% deflation annually, which seems like a long-term value release. But in reality? Without new buying interest, destruction is essentially just a game of accounting numbers.

The most heartbreaking scene is unfolding: good news turns into bad news, as the project burns tokens and retail investors lose confidence. Now, the market is watching the 28th timelock unlock closely, but by then, how much capital will still be willing to buy in?

In the short term, it’s hard to see a major breakthrough. If you really want to break through 7U, relying on destruction announcements alone won’t work; you need to see real buying interest return. Until liquidity noticeably improves, volatility will remain the main theme at this level.