Uniswap Surges 30% on Robinhood Chain Frenzy

Uniswap's native token, UNI, has surged by 30% over the last week as traders flock to Robinhood Chain. The new Ethereum layer-2 network has emerged as a major driver of UNI's rally, with Uniswap processing almost $6 billion in trading volume on Robinhood Chain in just seven days.

This is a significant shift from historical data, where Ethereum was always the dominant trading venue for Uniswap. However, Robinhood Chain only went live in July and has already become one of Uniswap's largest sources of revenue.

The impressive numbers are reflected in UNI's price performance, which has climbed by 30% on seven-day charts. At press time, UNI is trading at $5.90, fueling speculation of a price boom beyond $6.