Geoffrey Kendrick said investors are underestimating Robinhood’s tie-up with Uniswap as Robinhood CEO Vladimir Tenev promoted real-world asset tokenization over memecoins and more DeFi partnerships were seen as likely.
UNI rose 13.4% over 24 hours to $3.17 after Standard Chartered digital assets research head Geoffrey Kendrick said the market is significantly underestimating Robinhood’s partnership with Uniswap and the broader potential for similar tie-ups with high-quality DeFi protocols. Separately, Robinhood CEO Vladimir Tenev told CNBC that crypto’s long-term opportunity lies in tokenization of real-world assets rather than memecoins, saying assets without utility are not productive. Standard Chartered said Uniswap could play an important role in tokenized-asset trading, added it to its DeFi watchlist, and reiterated bullish long-term views that included a $100 UNI price target.