Uniswap's UNI Token Sets Record for Daily Burns Exceeding $1 Million

Uniswap's native token UNI has set a new record for daily burns, exceeding $1 million in value for the first time. The surge in trading activity on Robinhood Chain was the main driver of this increase, with a total of $1.15 million worth of UNI tokens removed from circulation on September 4th.

Of the 184,000 UNI tokens burned that day, approximately 150,000 came from activities on Robinhood Chain, making it by far the largest source of UNI tokens burned.

The trading volume on Robinhood Chain reached a new high on the same day, exceeding $3 billion for the first time, with Uniswap's share of total volume reaching an impressive 98 percent.