Uniswap could rise 40x to $100 by 2030 if tokenized assets become a much larger part of DeFi trading, according to banking giant Standard Chartered.
In a new report, published on June 15 by Geoff Kendrick, Standard Chartered's global head of digital assets research, and shared by Uniswap founder Hayden Adams on X, the bank projects UNI rising from around $2.50 at the time of the analysis to $100 by the end of the decade, representing a roughly 40-fold increase.
- The bank's forecast calls for UNI to reach $6.50 by the end of 2026, $20 in 2027, $40 in 2028, $65 in 2029 and $100 in 2030.
As the bank argues, Uniswap stands to benefit as more tokenized assets move on-chain and into DeFi.
The bank estimates the value of tokenized assets active in DeFi could expand 37 times by the end of 2030, implying that Uniswap's liquidity pools could eventually handle 37 times more assets than they do today.
Table with crypto forecasts by Standard Chartered. Source: Standard Chartered
"We forecast that UNI-USD will rise 40x to USD 100 by end-2030," Kendrick wrote, adding that this would see UNI "outperform both ETH and BTC through end-2030."
- The report estimates that stablecoins and tokenized real-world assets active in DeFi could grow to around $1.2 trillion by 2030, while total assets locked in DeFi could reach roughly $2.7 trillion.
Why Uniswap
Standard Chartered described Uniswap as an "all-purpose" trading infrastructure layer rather than a traditional exchange, comparing its role in DeFi to YouTube's position in online video distribution.
"Uniswap is like YouTube, while Coinbase is like Netflix," the report said, arguing that Uniswap provides the infrastructure while outside liquidity providers build on top of it.
- The bank also said Uniswap's market valuation remains lower than Coinbase's relative to fee generation despite similar transaction volumes, leaving room for its valuation multiple to expand if the protocol successfully commercializes relationships with traditional finance participants.
Yet, the report acknowledged risks. They include competition from specialized decentralized crypto exchanges, uncertainty around U.S. crypto regulation and the challenge of convincing traditional financial institutions to adopt DeFi.
More context: SEC delays tokenized stock plan after Wall Street pushback: report