Standard Chartered Says UNI Burn Surge Could Lift Token Above $100 by 2030

Standard Chartered said rising token burns at Uniswap could push UNI above the bank’s previous $100 price target by 2030.

BeInCrypto reported on Aug. 13 that Geoffrey Kendrick, Standard Chartered’s head of digital-asset research, said Uniswap’s partnership with Robinhood is performing better than expected. As a result, the bank’s $100 UNI target for 2030 may be too low, he said.

Kendrick said UNI burns tied to a fee-switch feature linked to Robinhood have nearly doubled since the feature was activated on July 27, reaching an annualized $90 million. That amounts to about 25 million UNI, or just over 4% of the circulating supply at current prices.

He added that the current elevated burn rate is unlikely to be sustained over the long term. Even if UNI rises to Standard Chartered’s year-end target of $6.50, the annualized burn rate would still be about 2.2%, he said. Additional partnerships similar to the Robinhood deal could further increase UNI burns.