Uniswap Token Soars as Robinhood Chain Drives Revenue to New Heights
Uniswap's native token UNI (UNI-USD) has seen a significant price surge, doubling from its August 14 low of $3.16 to reach $6.38 before pulling back to $6.12.
The trading volume driving this price move comes primarily from Robinhood Chain, an Arbitrum-based network launched in July. In August, the chain recorded $17.99 billion in trading volume, representing a 26% month-over-month increase.
On September 1, $1.75 billion of the network's $1.95 billion in total volume passed through Uniswap liquidity pools.