i'm in disbelief UNI still has bigger marketcap than LINK and SOL.
I understand it is the biggest swapper but it is just one OF many swappers. there are many good popular ones just on Ethereum, let alone other chains.
Imho, it is VERY overvalued fundamentally.
with demand in market i am believe current price uniswap was fair and not overvalue. this exchanges used by much traders in crypto market and they put huge liquidity in this platform. If compared with LINK or Solana they didnt do this feature, only common feature and not alot people used it excepe sol platform. As liquidity provider uniswap have various feature to attract investor buy it, simple example is loyalty community program and even from other project use uniswap as snapshot airdrop program.
What people do not understand is that people prefer the biggest part of eth world over something they don't want to use. Like for example Link is good and all and their competition is ETH and not UNI because link is a whole new ecosystem of its own, but ETH is soooooo much bigger that the biggest part of ETH is still bigger than whole of Link.
Think about this as football team, Mbappe is so expensive that there are thousands of teams all around the world that does not have collective worth of all their players worth just one mbappe, whereas he is just one player for PSG, maybe best player but still just one player. This is basically what is going on with UNI, eth is soooo huge that UNI is basically biggest part of something huge and that makes it bigger than thousands of coins/tokens and it is normal and expected, being that big in ETH world is not easy.