Uniswap Blazes Past $4.5 as Robinhood Partnership Ignites Price Surge

Uniswap's price has reached a six-month high above $4.5 after surging nearly 60% in July, according to TradingKey.

The price increase can be attributed to Uniswap becoming the core automated market maker (AMM) of Robinhood Chain, which was officially launched on July 1.

This partnership captured a large amount of initial trading demand and stablecoin liquidity, leading to a 13% surge in UNI's price on July 2 after Standard Chartered issued a bullish call on the token.

Uniswap's single-day trading volume on Robinhood Chain briefly surpassed $500 million, while it processed over 58% of the EVM stablecoin trading volume on the associated L2 network.

The Uniswap community's proposal regarding Uniswap v4 pools and Robinhood chain transaction fee capture also entered the final on-chain voting stage in mid-to-late July, providing further support for UNI's price.