Why is UNI up 11.26% Today, July 31, 2026? Token Burns, Launches and the Value-Capture Test

UNI gained 11.26% as AMM-sector strength coincided with renewed focus on Uniswap governance narratives around protocol-fee expansion and a permissionless burn mechanism. The market is repricing potential token value-capture if fee flows increasingly route into burns across more chains and pools. However, the latest 24h fees and reported revenue declined day over day, leaving near-term follow-through dependent on sustained activity, liquidity, and execution of governance rollouts.