Uniswap's UNI token could rise 40x from its current price of about $2.70 to $100 by the end of 2030 as tokenized assets increasingly move into decentralized finance, according to Standard Chartered Bank.
The bank initiated coverage of Uniswap, a decentralized exchange protocol, on Monday, saying that the value of tokenized assets active in DeFi is expected to grow 37x between now and the end of 2030 and that Uniswap is well-positioned to benefit from that growth.
"I think the next opportunity for generational wealth in digital assets is going to come via the DeFi protocols," said Geoffrey Kendrick, global head of digital assets research at Standard Chartered Bank.
Kendrick expects tokenized assets onchain to grow from about $340 billion today to $4 trillion by the end of 2028, with the share used in DeFi rising from 3.5% to 30% by the end of 2030. Together with growth in crypto-native assets, that would increase assets locked in DeFi to about $2.7 trillion, or 37x current levels. According to Kendrick, Uniswap is poised to benefit because its liquidity pools would have roughly 37x more assets available for trading.
"If Uniswap can commercialise enough and create significant enough TradFi partnerships to scale, its market cap-to-transaction fees multiple is likely to increase, narrowing the gap with Coinbase (the largest U.S. cryptocurrency exchange). We think this is feasible," Kendrick said.
