Uniswap (UNI) is flashing breakout signals as the wider crypto market recovers. According to CoinGecko data, UNI has climbed 10.7% on the daily charts and 15.2% over the previous week. Yet even after this sharp bounce, the asset is still down 17.6% on the monthly charts. Adding fuel to the move is a notably bullish call from Standard Chartered, which expects the token to push past the $100 level before this decade ends. Here is what is driving that view.
Why the $100 Forecast?
Standard Chartered's Geoff Kendrick believes the coming years will bring a surge in tokenized real-world assets (RWAs) and DeFi. Uniswap (UNI) has already carved out a position as a leading choice for tokenization. Even BlackRock, the world's largest asset manager, stepped into the DeFi space earlier this year by launching its BUIDL tokenized US Treasury fund on Uniswap through Securitize.
Kendrick projects that UNI could reach the $100 mark by 2030, an increase of roughly 3384% from current price levels. The analyst also expects the asset to hit a potential maximum of $6.50 by the end of 2026. Climbing to $6.50 from where it trades now would amount to a rally of about 126.4%.
Risks to Keep in Mind
As bullish as Standard Chartered's projection for Uniswap (UNI) may be, caution is warranted when investing in cryptocurrencies. The market remains fairly weak and volatility is still high. The recent upswing was likely tied to a peace deal between the US and Iran and the reopening of the Strait Of Hormuz. Many expect inflation to ease as oil prices fall.
Cryptocurrencies are high-risk assets that periodically suffer steep drawdowns. Uniswap (UNI) is currently down more than 93% from its May 2021 all-time high of $44.92. UNI's price could swing dramatically before it ever reaches the $100 target.
