Uniswap targets $100 by 2030 as Standard Chartered sees 40x upside

Standard Chartered initiated coverage on Uniswap's UNI token with a $100 price target for 2030, betting tokenized assets will drive a nearly 40-fold gain.

UNI gained 19% to $3.24 after Standard Chartered set a $100 price target for 2030, projecting tokenized real-world assets will drive a nearly 40-fold increase.

"Uniswap should be viewed less as a retail DEX app and more as market infrastructure that TradFi can integrate with once tokenized assets scale," Geoffrey Kendrick, global head of digital assets research at Standard Chartered, said.

The bank's price trajectory targets $6.50 by end-2026, $20 in 2027, $40 in 2028, $65 in 2029 and $100 in 2030. Standard Chartered expects total value locked in DeFi to reach $2.7 trillion by 2030, with tokenized assets active in DeFi rising to 30% from about 3.5% today, according to the June 15 note. Uniswap has facilitated more than $3.7 trillion in cumulative trading volume and generated $5.6 billion in fees since its 2018 launch, DefiLlama data shows.

The thesis hinges on whether tokenized assets move into open DeFi liquidity pools or remain within permissioned institutional rails. BlackRock's $2.37 billion BUIDL fund already trades on UniswapX, but access remains restricted to whitelisted participants, illustrating the gap between DeFi infrastructure and full open-market liquidity.

Tokenized stocks test the open-market thesis

On June 12, Uniswap enabled trading of tokenized Apple and Tesla shares, bridging traditional equities with decentralized exchange infrastructure. The move followed BlackRock's February integration of its BUIDL money market fund on UniswapX, where whitelisted holders can swap into USDC through request-for-quote mechanics. Citi's June 2026 tokenization report projected a $5.5 trillion base-case tokenized asset market by 2030 but said hybrid models may dominate, with institutions controlling issuance and settlement rails.

Supply mechanics tighten as volume grows

UNI's total supply has fallen to roughly 895 million from 1 billion since the UNIfication upgrade activated protocol fees in December 2025, Kendrick said. The upgrade programmatically triggers token burns as trading volumes increase, creating a supply squeeze alongside an annualized burn rate of roughly 1%. Uniswap's current TVL stands at $2.89 billion across multiple chains, with more than $50 million in 30-day fees, DefiLlama data shows.

The next evidence for the thesis will come from new tokenized asset integrations. If they remain isolated, whitelisted RFQ channels, open DeFi captures only a slice of the market. If they create broader pools that allow tokenized assets to move across DeFi liquidity with fewer bespoke controls, Uniswap's role in tokenization could expand beyond crypto-native swaps.

This article is for informational purposes only and does not constitute investment advice.