Standard Chartered has initiated coverage on Uniswap (UNI) with a $100 price forecast by the end of 2030, a roughly 40-fold jump from current levels. The bank ties the call to a projected 37-fold rise in tokenized assets entering decentralized finance (DeFi).
The forecast frames Uniswap as one of the clearest token bets on a broader shift, the convergence of traditional finance and blockchain rails as real-world assets, stablecoins, and crypto-native tokens migrate on-chain.
The $2.7 Trillion DeFi Bet
Geoffrey Kendrick, head of digital assets research at Standard Chartered, laid out the thesis in a Monday note.
He expects tokenized assets on-chain to reach $4 trillion by the end of 2028, up from $340 billion today. The bank sees the share of those assets active in DeFi climbing to 30% by 2030, from about 3.5% now.
By its math, that shift implies $2.7 trillion locked in DeFi, a 37-fold increase from today.
Standard Chartered argues the same growth would leave Uniswap liquidity pools with 37 times more on-chain assets to trade.
“I estimate that the amount of tokenized assets active in DeFi will 37x by the end of 2030” Kendrick wrote in the note.
Follow us on X to get the latest news as it happens
Why the Bank Picked Uniswap
Standard Chartered cited Uniswap’s role as an all-purpose infrastructure layer, its brand recognition, and its dominance in highly correlated pair trading.
As real-world assets move on-chain, pools can match naturally correlated tokens in ways that the bank says traditional firms cannot build on their own.
That argument is already being tested. Tokenized versions of stocks, including SpaceX, Apple, and Tesla, went live on Uniswap last week, part of more than $9.1 billion swapped in real-world asset pools across over 2.6 million transactions.
The institutional pull is visible higher up, too.
In February, BlackRock’s tokenized BUIDL fund became tradable through UniswapX, and the asset manager took a strategic stake in the Uniswap ecosystem.
The protocol’s recent UNI token burn proposal and its Unichain layer-2 network aim to tie protocol fees more directly to token value.
“If Uniswap can commercialize 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 Standard Chartered executive added.
Price Still Lags the Forecast
For now, the token trades well below the bank’s roadmap. UNI’s market price sat near $2.71 on Monday, up about 8% on the day but down roughly 62% over the past year, with a market value near $1.68 billion.
That price trails the bank’s 2026 target of $6.50. Standard Chartered’s ladder then climbs to $20 in 2027, $40 in 2028, $65 in 2029, and $100 in 2030, a path it expects to outpace both Bitcoin (BTC) and Ethereum (ETH).
The UNI token price following protocol growth remains the open question.
Regulators only dropped a Uniswap probe last year, and longer-term UNI price forecasts still hinge on how quickly tokenized assets actually reach DeFi.
