Uniswap network fees remain "attractive" despite plunging UNI price

Upon listing on Uniswap, the token's price plunged to lows of $1.00 as a flurry of 400 UNI airdrop recipients cashed out their tokens.

Shortly thereafter, large buyers stepped in and propelled its price up to highs of $8.50.

Since these highs were reached, UNI's price has been sliding lower, with it being unable to escape the immense bearishness seen throughout the aggregated DeFi ecosystem.

Despite the lack of hype surrounding DeFi and Uniswap at the present moment, one investor is noting that network fees coming from the platform are still quite attractive despite the declining UNI price.

Uniswap's UNI token breaks below $3.00 as DeFi hype continues fading.

At the time of writing, UNI's price is trading down just under 10 percent at its current price of $2.90.

Investor: UNI price decline not matching "Attractive" network fees.

John Todaro - a crypto-focused venture capitalist - explained in a recent tweet that Uniswap network fees remain highly attractive, despite UNI's price continuously sliding lower.

"Uniswap network fees are still pretty attractive and volumes are still comparable to large centralized exchanges, yet UNI price continues to grind lower. There will be some good value hunting opps in DeFi tokens over the next few months as all eyes turn back to bitcoin."

If Bitcoin begins recapturing the dominance it has been ceding over the market as it rallies past $12,000, DeFi coins may continue drifting lower - potentially leading some like Uniswap's UNI into oversold territory.