Standard Chartered Sees UNI at $100 by 2030, Outpacing BTC, ETH

Standard Chartered initiated coverage of Uniswap on June 15 and projected that the UNI token will reach $100 by the end of 2030. The bank said that forecast represents a 40-fold increase from UNI’s current price near $2.50 and would see the token outperform Bitcoin and Ethereum over the remainder of the decade.

The report lays out a yearly price path for UNI: $6.50 in 2026, $20 in 2027, $40 in 2028, $65 in 2029 and $100 in 2030. The bank also set long-term targets for the major cryptocurrencies, forecasting Ethereum at $40,000 and Bitcoin at $500,000 by the end of 2030.

Standard Chartered links the UNI forecast to growth in tokenized assets and wider decentralized finance activity. The report projects on-chain tokenized assets will rise from about $340 billion today to $4 trillion by the end of 2028. It estimates the share of tokenized assets active in DeFi will increase to roughly 30% by the end of 2030 from about 3.5% now, a shift the bank says would result in roughly $2.7 trillion of assets locked in DeFi by 2030.

The report notes current DeFi activity is concentrated in a small slice of tokenized markets, estimating about 3% of stablecoin supply and about 10% of real-world tokenized assets are active in DeFi today. Standard Chartered expects the value of tokenized assets active in DeFi to grow 37-fold between now and the end of 2030.

The bank identifies several factors that could allow Uniswap to benefit from that growth: it is the largest decentralized exchange, operates general-purpose infrastructure, has an extended operating history and a recognizable brand, and currently dominates trading in highly correlated pairs. The report states that liquidity pools on Uniswap could expand if more tokenized assets and institutional flows enter DeFi markets.

Standard Chartered says some traditional finance firms may require decentralized venues to trade naturally correlated tokenized assets through pooled liquidity, and that centralized venues cannot replicate certain liquidity-pooling functions. The investment case in the report depends on Uniswap capturing a larger share of protocol fees as DeFi markets expand.

The bank added that stronger commercialization and partnerships with traditional finance firms could raise Uniswap’s market-cap-to-transaction-fees multiple and narrow its valuation gap with Coinbase. Geoff Kendrick, the bank’s Global Head of Digital Assets Research, wrote: “We initiate coverage of Uniswap with a UNI-USD price forecast of USD 100 by end-2030, a 40x increase from today’s USD 2.50 level. This would see UNI outperform both ETH and BTC through end-2030.”