Standard Chartered says UNI's $100 target may be too low, and agreement fees are being destroyed faster than expected

Comparatively, according to The Defiant, Geoff Kendrick, head of global digital asset research at Standard Chartered Bank, said that its previously set UNI target of $100 by the end of 2030 may be too low. Kendrick pointed out that Uniswap's agreement fees on the Robinhood Chain were being destroyed faster than previously anticipated.

According to the data, between July 27 and August 12, the Uniswap agreement had an average daily revenue of about US$244,000, annualized about US$89.1 million, all of which was used to buy back and destroy UNI. At the current price of approximately $3.53, the annualized amount destroyed accounts for about 4% of the circulation (6242 million pieces). Kendrick called this destruction rate “clearly unsustainable,” and even at its target price of $6.5 at the end of 2026, the annualized destruction rate is still 2.2%, which is difficult to maintain in the long run, and has yet to count for more Robinhood-like collaborations.

The total revenue of the Uniswap protocol in the last 7 days was approximately US$1.55 million, of which Robinhood Chain contributed about US$925,000, accounting for about 60%. Uniswap has deployed v2, v3, v4, and UniswapX on the chain and has become the main public AMM.