Standard Chartered: UNI's $100 Target for 2030 May Still Be Conservative, Robinhood Chain to Accelerate Burn

BlockBeats News, August 14th. Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, stated that the previously set $100 price target for UNI by 2030 may still be conservative, mainly due to the recent accelerated pace of UNI buyback and burn through the protocol by Uniswap.

Data shows that from July 27th to August 12th, the daily average protocol revenue of Uniswap was around $244,000, a 2.4x increase from the previous 17 days' daily average of $99,800. At the current level, the annualized UNI burn rate is about $89.1 million. Kendrick mentioned that based on the current UNI price, this burn rate is equivalent to burning approximately 4% of the circulating supply annually, and with more Robinhood-like partnerships emerging, the long-term burn rate may further increase.

Notably, Robinhood Chain contributed to the majority of the recent Uniswap protocol revenue. In the past 7 days, Uniswap generated around $925,000 in protocol revenue on the Robinhood Chain, accounting for approximately 60% of Uniswap's total protocol revenue of $1.55 million during the same period. Kendrick had previously projected a target price for UNI by the end of 2026 at $6.5, and even if that price is reached, the current burn rate would still correspond to an annualized rate of about 2.2%.