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Uniswap pops 🦄
The DeFi protocol's UNI token surged to a high of $3.70 Wednesday morning, buoyed by Standard Chartered's bullish outlook and its recent tokenized securities launch.
📝 What you need to know
Uniswap surged Wednesday morning to a monthly high of $3.70, boosted by Standard Chartered's research note that forecast a $100 target for UNI by the end of the decade—and a $6.50 target for this year.
The bank’s thesis is that the DEX should be regarded as “market infrastructure” for TradFi, functioning as a liquidity layer for institutions to plug into as tokenized assets in DeFi scale as much as 37x.
Last week, Uniswap launched tokenized securities on the platform, making tokenized stocks including SpaceX, Apple, Tesla, and NVIDIA tradable across its app, wallet, and API.
UNI still has a mountain to climb, though, being down over 90% from its all-time high—and facing challenges on the horizon including niche competitors and standardization of compliance rules as TradFi giants muscle in on the tokenization space.
đź“° In the News
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