Standard Chartered Raises UNI Price Target After Robinhood Chain Burns

Standard Chartered's global head of digital assets research indicated that the $100 price target for UNI by the end of 2030 may be too low, following significant token burns from Uniswap on Robinhood Chain. The burn rate, based on data from 17 days ago, shows that Uniswap's fee income has rapidly concentrated on this new chain, which launched on July 1. Uniswap's protocol revenue averaged 244222 dollars daily from July 27 to August 12, up from 99770 dollars in the previous 17 days. This revenue is used to buy and burn UNI tokens under the UNIfication upgrade set for December 2025. The annualized burn rate post-July 27 is 89100000 dollars, close to the 90000000 dollars Kendrick previously mentioned. At the current price of 3.53 dollars, this translates to about 25 million tokens burned annually, or 4% of the total 624.2 million in circulation. Kendrick noted that a 4% burn rate is unsustainable and even a price increase to his 2026 target of 6.50 dollars would result in a 2.2% annualized burn rate, which is also likely unsustainable. Uniswap's v3 on Robinhood Chain generated 925054 dollars of the total 1550000 dollars in protocol revenue over the past week, with Uniswap accounting for 439.3 million dollars of the chain's 511.1 million dollars in 24-hour DEX volume. Kendrick estimates Robinhood Chain's total value locked at just under 1 billion dollars, making it the fastest-growing chain by that measure. UNI is currently down 6.7% over 24 hours and 13.4% over the week, priced at 3.53 dollars with a market capitalization of 2.2 billion dollars.

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