UNI Price Surges 14% as Uniswap Launches on Robinhood Chain

The UNI token is now making waves in the crypto market as Uniswap has officially become the primary automated market maker (AMM) on Robinhood Chain. This integration positions Uniswap as a major liquidity provider on Robinhood’s Layer-2 network for tokenized real-world assets.

Uniswap goes live on Robinhood Chain

According to the latest reports, Uniswap, the largest on-chain marketplace, is now available on Robinhood Chain as its primary AMM. In an official post on X, the Uniswap team shared the news, confirming that the decentralized exchange will provide on-chain liquidity for Robinhood Chain, the new Layer network developed under the Robinhood ecosystem.

It is worth noting that the latest move brings Uniswap’s full suite of products, including v2, v3, v4, and UniswapX, to Robinhood Chain. Through this development, developers and users will get access to advanced trading features. It will also help create a solid DeFi ecosystem on the network.

For context, Robinhood Chain is a new AI-based L2 blockchain network. It is designed to support tokenized real-world assets such as stocks, ETFs, and other traditional financial assets. By integrating with Uniswap, the DEX will help users swap assets easily through its liquidity protocol.

Why is the Robinhood partnership a major win for Uniswap? Standard Chartered explains

Interestingly, Standard Chartered asserted that Uniswap’s partnership with Robinhood highlights the growing recognition of the exchange’s technology. The bank’s Head of Digital Asset Research, Geoff Kendrick, added that more traditional financial giants will start embracing Uniswap and other DeFi platforms.

With this new collaboration, Robinhood is completely relying on Uniswap’s technology to support its blockchain infrastructure. The integration is thus expected to accelerate the adoption of RWA tokenization as Robinhood Chain will support tokenized products such as stocks, ETFs, and more.

As noted by Kendrick, the partnership between Uniswap and Robinhood Chain underscores the acceptance of decentralized finance among the conservative financial space. He also views Uniswap as a key player in the growing tokenized asset market. As a result, the bank remains optimistic about the future of Uniswap’s native token, UNI. The research head stated that the UNI token is poised to hit a high of $100 in the near term.

UNI token price on the rise

In response to the Robinhood alliance, the UNI token price is moving at a fast pace, posting significant gains. Despite the recent slowdown in the broader crypto market, the UNI price is exhibiting a remarkable rally, overpowering major players like Bitcoin and Ethereum.

As of press time, the UNI token is trading at $3.21, with about 8% surge in a day. Over the past week, the token has seen a notable rise of more than 12%. On a monthly basis, the UNI price is up by above 10%.

Impressively, this positive trend could also be seen in the trading activity. As traders are largely convinced by the bullish sentiment, the 24-hour trading volume has surged by 72% to $308 million.