Standard Chartered backs Uniswap: UNI could hit $100 by 2030

Published: 2026-06-16 06:52:07 |

Standard Chartered initiated coverage on Uniswap and forecast UNI could rise from around $2.7 to $100 by end-2030 (about 40x). The call ties UNI upside to DeFi expansion and tokenized assets growth. It projects tokenized assets on public blockchains increasing from roughly $340B today to $4T by end-2028, while DeFi’s share of that market could climb from 3.5% to 30% by 2030. In the same framework, total DeFi assets locked could reach about $2.7T, supporting higher on-chain trading volume. A core UNI catalyst is Uniswap’s fee-burn and tightening supply. The UNIfication upgrade introduced protocol fees and a UNI burn, later expanded via governance to more liquidity pools. Standard Chartered cites about $21M in protocol fees since the fee switch and roughly 5M UNI burned, implying an ~1% annual burn rate. It also notes supply contraction: total supply down from 1B to 895M and circulating supply around 622M. The report’s price path targets $6.50 (end-2026), $20 (end-2027), $40 (end-2028), $65 (end-2029), and $100 (end-2030), and expects UNI to outperform BTC and ETH over the decade. Key risks include specialized DEX competition, the need for stronger traditional-finance partnerships to commercialize tokenized RWA, and uncertainty around Uniswap V4’s hook system at the scale assumed in the forecast.

Bullish

This is fundamentally bullish for UNI price expectations because the report links higher UNI value to measurable protocol mechanics (fee-burn and supply tightening) plus a macro tailwind (tokenized assets and DeFi adoption expanding). Traders may respond by bidding UNI on the narrative that DeFi TVL can scale to ~$2.7T and that burn rates can remain structurally supportive. Short-term, the market reaction is likely to be sentiment-driven around the headline $100-by-2030 target; it could increase volatility in UNI as traders reprice long-duration DeFi exposure. Long-term, the forecast’s credibility depends on execution: governance expansion of fee capture, sustained trading volume, and DeFi’s ability to commercialize tokenized RWA. The cited risks (DEX competition, weaker traditional-finance partnerships, and Uniswap V4 hook uncertainty) could cap upside if growth or tokenization adoption lags, but overall the direction remains price-positive for UNI.