Uniswap at $100: Standard Chartered Believes It — But Analysts Remain Skeptical

Standard Chartered has published an ambitious price target for UNI, the native token of Uniswap, setting its sights on $100. With the token currently trading around $2.50, that represents an upside potential of nearly 40x.

It’s a projection that’s generating serious buzz — and serious debate. Between the protocol’s genuine catalysts and legitimate doubts about its ability to compete with assets like Bitcoin, Ethereum, or even Coinbase stock (COIN), the conversation is very much open.

Here’s what the data and analysts are actually saying.

Standard Chartered Bets on UNI: What Arguments Support This Thesis?

British bank Standard Chartered has made a name for itself in recent years with bold crypto forecasts — some of which have proven correct. Its $100 target for UNI rests on several fundamental pillars that deserve to be taken seriously.

Uniswap remains the most widely used DEX in the Ethereum ecosystem, with trading volumes that regularly run into the billions of dollars per week. The protocol has processed more than $2 trillion in cumulative volume since its launch — a figure that speaks to genuine, lasting adoption. The protocol’s v4 upgrade, with its customizable hooks, opens up new possibilities for developers and could reignite on-chain activity.

On top of that, regulatory pressure in the United States has eased somewhat since the start of 2025, particularly with a shift in the SEC’s stance toward DeFi protocols. This environment could allow Uniswap to roll out a fee-sharing model for UNI holders — a mechanism that would transform the token into a genuine revenue-generating asset and significantly strengthen its fundamental valuation.

Technical Resistance and Analyst Doubts Temper the Enthusiasm

Despite Standard Chartered‘s bullish thesis, several analysts have raised significant reservations. The main criticism centers on the comparison with assets like BTC, ETH, and COIN: across previous cycles, UNI has consistently underperformed these benchmarks on a risk-adjusted return basis.

From a technical standpoint, UNI faces major resistance in the $15 to $20 range — levels that have historically acted as ceilings that the token has struggled to break through and hold. A rally toward $100 would require not only clearing those levels, but also sustaining bullish momentum within a broadly favorable macro environment — two conditions that are far from guaranteed to align simultaneously.

UNI‘s tokenomics also raise questions: a large portion of the supply remains in the hands of the Uniswap Foundation and early investors, creating a sell pressure risk in the event of a prolonged rally. Without a concrete activation of fee sharing, the token still lacks a fundamental catalyst powerful enough to justify a 40x increase from its current value.

Can UNI Really Compete With Bitcoin and Ethereum This Cycle?

The core question raised by Standard Chartered is about UNI‘s positioning within institutional portfolios. The bank appears to view the token as a DeFi proxy, much in the same way that COIN serves as a proxy for crypto adoption in the United States.

The analogy is compelling, but imperfect. Coinbase generates real revenue, operates under clear regulatory oversight, and benefits from direct institutional visibility. Uniswap, despite its dominance in the DEX market, remains a decentralized protocol whose valuation is largely driven by market sentiment toward DeFi — a sector that many institutional allocators still view as high risk.

That said, if the 2025 bull market extends to quality altcoins and Uniswap governance activates the fee switch, UNI could deliver a genuine surprise. The $100 target remains extreme, but a move back toward $20 to $30 — representing an 8x to 12x from current levels — looks considerably more credible according to several independent analysts tracked on CryptoQuant and TradingView.