Why is Uniswap (UNI) up 4.66% Today, August 28, 2026? High Turnover Extends a DeFi Re-rating

UNI outperformed BTC and ETH on heavy turnover (24h volume ~$383.3M, ~13.3% of market cap), reinforcing a selective DeFi re-rating rather than a broad market beta move. With global derivatives open interest down ~1.74%, leverage expansion looks less likely as the driver, keeping focus on tokenomics and fee-linked supply reduction narratives alongside improving TVL and social visibility. Short-term impact is concentrated in UNI and high-beta DeFi names.