Uniswap captures 60% of RWA DEX volume as UNI jumps 10%

Uniswap's UNI token rose 10% to $5.84 on Tuesday as the protocol captured 60% of real-world asset DEX volume last week, up from 40% the prior week.

The share gain, self-reported by Uniswap on X, comes as the broader RWA sector's active market cap reached $31 billion across 217 assets, according to DefiLlama. Uniswap's dominance in tokenized asset trading has made it the primary venue for users swapping tokenized versions of US stocks, gold, and other real-world assets on Ethereum.

Open interest in UNI futures climbed to 85 million tokens on Tuesday, up from 82 million a day earlier and 72 million last Saturday, Coinglass data shows. The rise in derivatives positioning tracks four straight days of gains in the spot token, which has reclaimed all major exponential moving averages.

A breakout above $6.00 would confirm bullish control, while the Relative Strength Index at 78 signals overbought conditions that could invite a pullback toward the 50-day EMA near $4.02, with the 200-day EMA at roughly $3.96 providing a second support layer.

The RWA volume growth extends beyond market share. Tokenized stock trading through Uniswap rose $325.2 million on a weekly basis, with V4 accounting for $170 million and V3 contributing $155.2 million, according to Token Terminal. The protocol's deep integration with Robinhood Chain pushed single-day volume of tokenized US stocks and RWAs past $130 million, a near-tenfold monthly increase, while monthly protocol fee revenue topped $30 million.

Uniswap's fee mechanism across v2, v3, and v4 now feeds generated fees into the TokenJar smart contract, which automatically buys back and burns UNI on the secondary market. More than 100 million UNI tokens have been cumulatively burned, converting the token from a non-yielding governance asset into a deflationary value-capture vehicle.

The rally stands out against a weaker broader crypto market, where Bitcoin and Ethereum struggled to extend gains despite renewed ETF inflows. UNI's outperformance suggests capital rotating into the Uniswap ecosystem as traders position for continued RWA volume growth, though the overbought RSI leaves the token exposed to a near-term consolidation before any fresh leg higher. Traders will watch whether UNI can hold above the $6.00 breakout zone, with the next major level at $10 if market liquidity recovers.

This article is for informational purposes only and does not constitute investment advice.