Uniswap (UNI) traded at about $3.52 on Wednesday morning, rising 25% in the past 24 hours and 42.48% over the last week. Most of this month’s gains happened this week, since UNI is up just 0.95% for the month. Today, the Uniswap price ranged from $2.778 to $3.584, making UNI one of the top performers.
What makes this move different from a typical altcoin surge is the trading volume. In the past 24 hours, turnover more than doubled, rising 109.58% to $561.27 million. That means volume is about 26% of UNI’s $2.18 billion market cap.
This rally is pushing UNI toward a key area highlighted by World of Charts, where UNIUSDT was marked at $2.984, and a long-term downward trendline met strong horizontal resistance. If UNI breaks out from this zone and holds, it could double in the coming months, reaching about $6 from the $2.984 level.
This resistance level has blocked Uniswap in the past, and looking at the bigger picture, there’s still a long way to go for a full recovery. UNI is down 29.38% over the past six months, 37.80% for the year, 52.97% over the last year, and 92.07% from its all-time high in 2021.
Standard Chartered’s $100 Uniswap Price Call Meets Thin Protocol Revenue
This rally comes just days after Standard Chartered, through its digital assets head, Geoff Kendrick, set a $100 Uniswap price target by 2030. That would be a 40x jump from $2.50, moving through $6.50, $20, $40, and $65 along the way. The bank expects UNI to outperform its own price targets for ETH ($40,000) and BTC ($500,000).
The bank’s prediction is based on UNI gaining from a 37-fold increase in tokenized assets used in DeFi. They expect on-chain real-world assets (RWAs) to grow from $340 billion to $4 trillion by 2028.
On June 13, Uniswap launched tokenized shares of SpaceX, Apple, Tesla, and NVIDIA across its app, wallet, and API. The protocol has handled $4.4 trillion in lifetime trading volume and $9.1 billion in RWA pools, which supports the bank’s case. Still, even supporters are cautious: investor Simon Dedic called the targets “on the delusional side” but still supports the RWA idea.
The fundamentals add a note of caution to the optimism. Uniswap earned $53.01 million in user fees over the past 30 days, more than Aave, Lido, or Morpho. However, its protocol revenue is only $22.2 million a year, which is just 0.9% of all DEX revenue and ranks eighth, behind pump.fun and PancakeSwap.
Standard Chartered forecasts that Uniswap will close the gap between fees earned and value captured. With 254,400 daily users, the second-highest among DEXs, UNI has a strong reach. Still, any Uniswap price prediction now depends on sustained high trading volume. If volume falls below average, the rally could slow down.
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