Uniswap Token Burns Surge to New High on Robinhood Chain Activity

Uniswap's native token UNI has reached a new milestone in token burns. According to Wu Blockchain's data center, on September 4, the value of UNI burned totaled $1.15 million. This figure represents the second-largest single-day burn on record.

The bulk of the burned supply originated from Robinhood Chain, with approximately 150,000 tokens stemming from activity on that network. As a result, Robinhood Chain became the largest source of UNI burns on the day.

The increase in trading activity is driving the expanded burn. On September 4, Robinhood Chain's decentralized exchange (DEX) daily trading volume surpassed $3 billion for the first time ever. Uniswap accounted for up to 98% of that volume.