Standard Chartered Raises Uniswap Price Forecast Amid Stronger Robinhood Collaboration Results

Standard Chartered, a major British banking giant, has made significant adjustments to its long-term price forecast for Uniswap's native token, UNI. According to Geoffrey Kendrick, head of the bank's digital asset research unit, the collaboration between Uniswap and Robinhood has yielded stronger results than expected.

Kendrick noted that after the launch of the fee-sharing mechanism on July 27th, there was a significant increase in the rate of UNI token burning. The volume of UNI tokens burned nearly doubled, reaching $90 million on an annualized basis, which corresponds to approximately 25 million UNI tokens.

This means that more than 4% of the circulating supply is removed from the system annually. Standard Chartered assesses that this decrease in supply could put upward pressure on the UNI price if demand remains or increases.

However, Kendrick also stated that maintaining the current burning rate for a long time may be difficult. Even if the UNI price rises to his projected level of $6.50 by the end of 2026, the annual burning rate would remain around 2.2%.