$UNI
The recent weakness is mainly related to the Layer2 mainnet ecological incentives.
Currently, the rewards from activities in the Layer2 ecosystem are UNI tokens, but most people sell off their rewards directly for cash after receiving them. Coupled with the recent sluggish trading volume, this has put pressure on the token price.
As the leading DEX in Ethereum DeFi, the fundamentals of UNI are actually not bad, but the problem is that the project team has not provided any utility for the tokens (such as staking dividends or governance upgrades). Retail investors holding the tokens have no additional income, which naturally reduces their motivation to hold long-term.
However, during a bull market cycle, it is highly likely that the project team will take action to pump the price.
If substantial utility is introduced later (such as distributing trading fee dividends to UNI holders or launching new features that require locking UNI), the token price is very likely to rebound.
Now, it may be worth considering building a position in batches, such as first buying a base position and then adding more after the utility news is implemented or the selling pressure from Layer2 eases.