Uniswap Trading Volume Explodes on Robinhood, UNI Surpasses $5.2

BlockBeats News, August 30th, according to HTX market data, UNI broke through $5.24, with a 24-hour gain expanding to 18.9%.

The biggest catalyst for UNI's recent surge was the eruption of real trading volume on the Robinhood Chain, making Uniswap the primary DEX for Robinhood's tokenized stocks (RWA). Daily trading of tokenized stocks on Robinhood reached approximately $130 million, nearly a 10x increase in a month. Furthermore, since the fee switch to the v4 version on July 27th, the chain has become a major contributor to Uniswap's fees.

Currently, the 24-hour protocol fees on Robinhood are around $11.29 million, with Uniswap and the issuance platform Pons contributing approximately $4.3 million each, with Uniswap leading among all protocols. According to the v4 fee switch rules, the $4.3 million in fees generated by Uniswap will contribute hundreds of thousands of dollars worth of continuous burning for UNI daily, translating to the destruction of approximately 57,000 UNI tokens at the current price.