Standard Chartered Says $100 UNI Target May Be Too Low Amid Faster Fee Burning

ChainCatcher report, according to The Defiant, Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, stated that his previous target price of $100 for UNI by end-2030 may have been too low. Kendrick noted that the rate of protocol fee burns on Uniswap has exceeded prior expectations on Robinhood Chain. Data shows that between July 27 and August 12, Uniswap’s daily protocol revenue averaged approximately $244,000, annualizing to about $89.1 million, all of which is used to repurchase and burn UNI. At the current price of around $3.53, this annualized burn rate represents approximately 4% of the circulating supply (624.2 million UNI). Kendrick described this burn rate as “clearly unsustainable”; even at his target price of $6.50 by end-2026, the annualized burn rate would still reach 2.2%, making it difficult to sustain long-term—especially without accounting for additional partnerships similar to Robinhood. Over the past seven days, Uniswap’s total protocol revenue reached approximately $1.55 million, with $925,000 contributed by Robinhood Chain, accounting for about 60%. Uniswap has deployed v2, v3, v4, and UniswapX on this chain and has become the primary public AMM.