UNI Price Target Under Threat as Burn Rates Soar on Robinhood Chain

Standard Chartered's global head of digital assets research Geoff Kendrick has expressed concerns that his $100 end-2030 price target for UNI may be too low. The burn rate for Uniswap tokens, which are used to buy and burn UNI under the UNIfication upgrade, has accelerated significantly since July 27. According to DefiLlama data, Uniswap's protocol revenue averaged $244,222 a day between July 27 and August 12, up from $99,770 a day over the preceding 17 days.

The annualized burn rate is estimated at $89.1 million, which would account for about 4% of the total UNI tokens in circulation. Kendrick argues that this level of burn is unsustainable, even if the token price were to reach his year-end 2026 target of $6.50.

The high burn rate can be attributed to Uniswap's deployment on Robinhood Chain, which has generated 60% of the chain's revenue. The chain's total value locked is estimated at $506.97 million, with $1.55 billion bridged.