Standard Chartered Raises Uniswap Price Target Amid Increased Token Burns

Geoff Kendrick, the global head of digital assets research at Standard Chartered, announced on Thursday that his previous price target of $100 for Uniswap's UNI token by the end of 2030 might be too low. This revision is attributed to an unexpected increase in the token burn rate, significantly influenced by trading fees generated on the newly launched Robinhood Chain.

The original price target was established on June 15, coinciding with Standard Chartered's initiation of coverage on Uniswap. The recent surge in the burn rate is primarily due to the UNIfication upgrade, which was implemented in December 2025. This upgrade reduced UNI's total supply from 1 billion to approximately 895 million tokens and introduced an automated buy-and-burn mechanism that utilizes a portion of trading fees to purchase and permanently destroy UNI tokens.

Since the launch of Robinhood Chain on July 2, Uniswap has emerged as the default liquidity layer, processing over $500 million in trading volume and contributing millions in daily fees that directly support UNI burns. For instance, a notable instance saw the burning of over 22,000 UNI tokens, valued at around $85,000, from trades on the Robinhood Chain alone.

Kendrick highlighted the integration of Uniswap with Robinhood as a pivotal factor in expanding its market reach beyond traditional crypto users, tapping into Robinhood's extensive retail user base. Proposals are also being considered to formalize fee structures for Robinhood Chain and broaden the sources of UNI burns, which could further accelerate the burn rate.

In the wake of these developments, Kendrick noted that the annualized burn rate has increased significantly, now projected at around 4.1% per year, compared to the previous estimates. This acceleration in token destruction could lead to a reevaluation of the long-term price dynamics for UNI.