In brief
- UNI rose double digits in the last 24 hours, outpacing Bitcoin and Ethereum.
- The rally followed a Standard Chartered note projecting a near‑40‑fold increase to $100 by 2030.
- Uniswap has launched tokenized stocks such as SpaceX, Apple, Tesla and NVIDIA across its app, wallet and API.
UNI, the governance token of the decentralized exchange Uniswap, jumped double digits in the past 24 hours to a local high of $3.70, its highest level in over a month.
At the time of writing, Uniswap trades at $3.63, up 19.8 % on the day and 48.4 % for the week, according to CoinGecko, beating both Bitcoin and Ethereum. The surge lifted Uniswap’s market cap to roughly $2.26 billion, with 24‑hour volume near $864 million, reflecting growing institutional confidence in DeFi blue‑chip assets.
The catalyst traces back to a Standard Chartered research note by Geoff Kendrick, the bank’s global head of digital assets. Kendrick set a $100 price target for UNI by 2030—a near‑forty‑fold increase—and a $6.50 target by year‑end. He argued that traditional finance should view Uniswap “less as a retail DEX app and more as market infrastructure,” likening it to YouTube, while comparing Coinbase to Netflix.
According to the analyst, Uniswap is uniquely positioned to scale as tokenized assets proliferate in DeFi, with its neutral, rules‑based automated market maker serving as the liquidity layer institutions can plug into.
Standard Chartered expects DeFi assets to total $2.7 trillion by 2030, potentially giving Uniswap pools 37 times more trading capacity. A late‑2025 “UNIfication” fee‑switch upgrade is also burning roughly 1 % of the token supply annually, reducing total supply to about 895 million from 1 billion.
The price rally coincides with Uniswap’s tokenized securities launch on June 12, which introduced tokenized shares of SpaceX, Apple, Tesla and NVIDIA for trading across its app, wallet and API. The company highlighted more than $9.1 billion swapped in real‑world‑asset pools ahead of the securities debut.
Research from ARK Invest also supports a bullish case. Lorenzo Valente noted that Uniswap recorded a record $125 billion monthly trading volume in October 2025, has reclaimed the top DEX spot with 25‑30 % of total DEX volume, and now captures roughly half of all gross spot trading fees in the sector. Over the past 30 days, the protocol is burning about 2 % of the total UNI supply annually, aligning the token closely with protocol value.
Despite the recent gains, UNI remains far below its all‑time high of $44.92 set in May 2021. Kendrick warned of risks such as niche competitors and the standardisation of compliance rules as traditional finance players move into tokenisation.
The token’s momentum also builds on BlackRock’s February decision to make its BUIDL tokenised money‑market fund available via UniswapX, with Uniswap Labs noting that the asset manager “made a strategic investment within the Uniswap ecosystem.”
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