UNI Jumps 16% as Robinhood Chain DEX Volume Hits $1.3B
UNI is buying and selling round $6.31, up 16.5% within the final 24 hours, after Robinhood Chain’s decentralized trade quantity hit a brand new day by day high above $1.3 billion, based on CoinGecko.
The transfer ties Uniswap’s token value on to buying and selling exercise on Robinhood Chain, the place Uniswap is the community’s major automated market maker and collects charges on that quantity.
Robinhood Chain’s Volume Keeps Climbing
UNI’s 24-hour vary ran from $5.58 to $6.37. The token is up almost 46% for the week and greater than 51% for the month, although nonetheless down about 35% for the yr and roughly 86% under its all-time high of $44.92, set in May 2021.
UNI additionally gained about 12% in opposition to Bitcoin and almost 13% in opposition to Ethereum over the identical window, based on CoinGecko’s pairing knowledge.
Trading exercise additionally picked up alongside the value, with the token’s 24-hour quantity hitting $1.17 billion, up 95% from yesterday.
Robinhood Chain’s quantity has been climbing for weeks, with a file $875 million in day by day DEX quantity on August 30. By immediately, CoinGecko’s monitoring places that determine above $1.3 billion, almost 50% increased inside three days.
Separately, Arkham reported that Robinhood Chain is now generating extra in chain charges than Solana, Base or Ethereum, pointing to $1.49 billion in DEX quantity and 5.52 million day by day transactions as the drivers, together with a brand new buying and selling sample that pairs meme cash straight in opposition to tokenized shares.
One instance it cited is Artificial Inu, a meme coin with a $184 million market cap that trades in opposition to a tokenized model of Nvidia inventory reasonably than a stablecoin or the community’s native asset.
Uniswap’s Growing Role on Robinhood Chain
Uniswap’s place on Robinhood Chain goes past simply facilitating trades. As CryptoPotato reported in August, the platform launched Pools.commerce, a token launchpad, on the community early that month, letting customers create tokens by way of both a four-hour Crowd Launch or an Instant Launch earlier than liquidity will get locked into Uniswap v4 swimming pools.
The rollout pulled merchants away from rival launchpad token PONS, which fell almost 14% in 24 hours and nearly 48% over the week that adopted.
Uniswap nonetheless trails different Robinhood Chain functions on direct payment seize. GMGN generated $1.11 million in software charges, and Pons introduced in $930,000, in contrast with $307,000 for Uniswap, based on Arkham’s knowledge.
Meanwhile, Robinhood’s complete worth locked (TVL) has climbed to $740 million, up 23% on the week, on a community that solely launched on July 1.
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