Uniswap's UNI token jumped 16.5% in the past 24 hours to around $6.31, as Robinhood Chain's decentralized exchange volume hit a new daily high above $1.3 billion. Uniswap is the primary automated market maker on that network, collecting fees on the surge in activity.
Why UNI is moving
The token's 24-hour range ran from $5.58 to $6.37. It's up nearly 46% for the week and more than 51% for the month, though still down about 35% for the year and roughly 86% below its all-time high of $44.92, set in May 2021. UNI gained about 12% against Bitcoin and nearly 13% against Ethereum over the same window. Its 24-hour volume hit $1.17 billion, up 95% from the previous day.
Robinhood Chain's record day
Robinhood Chain's volume has been climbing for weeks. It hit a record $875 million in daily DEX volume on August 30; by today, it's above $1.3 billion, nearly 50% higher within three days. Arkham reported that Robinhood Chain is now generating more in chain fees than Solana, Base or Ethereum, pointing to $1.49 billion in DEX volume and 5.52 million daily transactions as the drivers. The network's total value locked has climbed to $740 million, up 23% on the week, on a chain that only launched on July 1.
Meme coins meet tokenized stocks
A new trading pattern is emerging on Robinhood Chain: meme coins paired directly against tokenized stocks. One example is Artificial Inu, a meme coin with a $184 million market cap that trades against a tokenized version of Nvidia stock rather than a stablecoin or the network's native asset.
Uniswap's launchpad and the competition
Uniswap launched Pools.trade, a token launchpad, on Robinhood Chain in early August. It lets users create tokens through either a four-hour Crowd Launch or an Instant Launch before liquidity gets locked into Uniswap v4 pools. The rollout pulled traders away from rival launchpad token PONS, which fell nearly 14% in 24 hours and almost 48% over the week that followed. Still, Uniswap trails other Robinhood Chain applications on direct fee capture: GMGN generated $1.11 million in application fees, Pons brought in $930,000, compared with $307,000 for Uniswap.
The question now is whether Uniswap can convert its volume advantage into fee capture, as it trails rivals like GMGN and Pons on that front.
