Robinhood Chain has recorded rapid growth, and Uniswap has become its largest direct beneficiary.
As AMBCrypto reported, tokenized-stock holders increased from nearly zero to 863,800 within two months.
Daily Trading Volume also averaged between $100 million and $130 million. That participation substantially increased Robinhood Chain’s Fees and Revenue.
On the 4th of September, daily Fees reached $6 million, while Revenue climbed to $5.4 million. That activity also pushed daily UNI burns to a record value.
Why did UNI burns cross $1M?
Uniswap recorded higher activity alongside rising Fees and Revenue. DeFiLlama data showed that daily Fees reached $12.5 million, while Revenue exceeded $1 million.
As network activity accelerated, the value of burned UNI also climbed sharply.
According to the Wu Blockchain Data Center, daily UNI burns reached $1.15 million. That marked the first time their daily value surpassed $1 million.
Around 184,000 UNI were burned, marking the second-highest daily total on record. Robinhood Chain generated approximately 150,000 UNI of that amount.
On the same day, Robinhood DEX Volume surpassed $3 billion for the first time.
Uniswap accounted for 98% of that activity, making it the primary engine behind the burn. Token burns reduce circulating supply. However, their price impact still depends on demand and the size of remaining supply.
Can UNI price follow the burn?
Despite record burns, Uniswap [UNI] continued facing selling pressure from Spot traders. Spot Netflow rose to $2.1 million after recording -$6.6 million during the previous session.
That reversal indicated renewed exchange inflows and potential profit-taking.
Even so, UNI’s market structure retained a bullish bias. The Positive Directional Indicator [+DI] remained above the Negative Directional Indicator [-DI], showing that buyers maintained directional control.
Meanwhile, the Average Directional Index [ADX] remained above its SMA, supporting the trend’s strength. The Advance Decline Ratio also held above 1, confirming broader bullish participation.
Therefore, stronger demand alongside continued burns could help Uniswap [UNI] clear $6.50 and target $7.
However, UNI must defend $6. Losing that level could expose the $5.60 support. Uniswap’s burn mechanism is working. The unanswered question is when the market will price that value accrual.
Final Summary
- Robinhood Chain reached 863,800 tokenized-stock holders within two months. Its daily Trading Volume averaged between $100 million and $130 million.
- Uniswap [UNI] could target $7 if demand strengthens and $6 remains support.
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