Standard Chartered Rethinks Uniswap Price Target. “$100 is Too Low”
Standard Chartered analyst Geoffrey Kendrick says his $100 UNI goal for 2030 now appears too low. Six weeks of Robinhood Chain charges modified his math.
BeInCrypto checked his numbers in opposition to on-chain knowledge. The core declare holds up. One supporting determine doesn’t.
What Changed in 6 Weeks for the $100 UNI Target
In a June word, Standard Chartered projected a UNI price target of $100, implying a 37x upside fueled by enlargement in decentralized finance (DeFi) belongings. Analysts have been break up again then over the Uniswap fee switch debate and whether or not burns would ever matter.
Large wallets have moved since. UNI whale accumulation hit a five-year high this month. UNI was buying and selling close to $3.48 on Thursday, down 1.3% within the final 24 hours.
Robinhood Chain went reside on July 2. Kendrick wrote to shoppers precisely 42 days later. Uniswap now handles 76.5% of all buying and selling on the chain, in response to DefiLlama knowledge. Its swimming pools moved $409 million in a single day.
That buying and selling throws off charges. Uniswap collected $1.81 million of the chain’s $2.28 million in day by day charges, or 78.8%.
Those charges matter due to a change made in December 2025. Uniswap started utilizing a part of its income to purchase and burn UNI, shrinking provide for good.
A second swap protecting Robinhood Chain went reside on July 27. Burns have doubled since, Kendrick wrote, working at $90 million a 12 months.
That arithmetic holds up. At $3.48 per token, $90 million buys roughly 25.7 million UNI. Circulating provide is 624 million. So the burn price is 4.1% per 12 months.
The scale exhibits over time. UNI launched with 1 billion tokens, and about 109 million have been destroyed.
Kendrick known as that tempo unsustainable. Even at his end-2026 goal of $6.50, the burn would nonetheless run close to 2.2%.
“I concern my 2030 UNI goal of USD100 is too low!” Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered, wrote within the newest word.
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One supporting declare doesn’t take a look at. Kendrick put Robinhood Chain’s complete worth locked just below $1 billion.
DefiLlama counts $506.97 million working contained in the chain’s apps. A wider measure of the whole lot bridged onto the chain reaches $1.55 billion. His determine sits between the 2.
The hole issues lower than it appears. Fees come from buying and selling, not from parked cash.
Uniswap holds simply 16.3% of the chain’s locked worth, with lending vaults holding many of the relaxation. Yet it takes practically four-fifths of the charges.
The Same 6 Weeks Brought a Fight Over That Volume
Uniswap launched Pools.commerce on the identical chain on August 5. It lets anybody create a token and ship it straight into Uniswap swimming pools.
Creators choose a four-hour bidding window or an immediate launch. Uniswap fees no launchpad charge past a 0.25% lower for liquidity suppliers, whereas rivals sometimes take near 1%.
That undercut drew a response. 0xDeployer, a pseudonymous developer, is constructing a competing launchpad with SushiSwap.
He accused Uniswap of making an attempt to regulate the entire stack and is issuing a separate token to fund the hassle.
However, the challenger begins far behind. SushiSwap handles 0.45% of Robinhood Chain buying and selling, in comparison with Uniswap’s 76.5%.
Another developer, 0xbeans, disputed the technical grievance. Uniswap’s v4 code is beneath a license that blocks business copies till June 15, 2027, after which it opens totally.
Hooks, the add-on contracts that customise swimming pools, have been by no means restricted.
The sample is previous. SushiSwap itself launched in 2020 by copying Uniswap’s code and paying merchants to maneuver their liquidity over.
Early chain quantity leans closely towards meme coins on Robinhood, the place launch venues compete hardest.
So six weeks delivered each the charge movement and a challenger for it. Kendrick’s burn math rests on quantity Uniswap doesn’t personal.
It rents that quantity from merchants who can go away. Whether $100 proves too low is dependent upon how lengthy they keep.
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