The project, co-founded by OpenAI CEO Sam Altman, has become one of crypto’s most direct ways to express a bullish view on artificial intelligence (AI). The token has benefited from renewed enthusiasm around AI-related investments following the strong market debut of SpaceX, which also owns AI company xAI, and growing expectations that OpenAI could eventually pursue a public listing.
Decetralized exchange Uniswap’s UNI token surged another 18% after Standard Chartered initiated coverage on Monday with a highly bullish long-term outlook on the protocol.
Geoffrey Kendrick, the bank’s head of digital asset research, argued that decentralized finance (DeFi) could become one of crypto’s biggest growth stories as tokenized stocks, bonds and other traditional assets move onchain.
In the report, Kendrick estimated the amount of assets actively used in DeFi could increase 37-fold by the end of the decade and sees Uniswap, the largest decentralized exchange, as one of the clearest beneficiaries.
He initiated coverage with a $100 price target for UNI by 2030, implying roughly 30 times upside from current levels.
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