UNI burn value surpasses $1 million in one day

The daily burn value of UNI crossed the $1 million threshold for the first time on 4 September. That is according to data from the Wu Blockchain Data Center. The peak was almost entirely caused by an explosive surge in trading activity on Robinhood Chain, where Uniswap accounted for 98% of the total daily DEX volume.

UNI is available at OKX and Bybit.

In short:

• On 4 September, $1.15 million worth of UNI was burned, a daily record.
• Of the 184,000 UNI burned, 150,000 came from Robinhood Chain.
• Daily DEX volume on Robinhood Chain exceeded $3 billion for the first time.

Record burn driven by Robinhood Chain

In total, 184,000 UNI was burned on 4 September, the second highest daily amount ever recorded. The burn value came to $1.15 million. That is the first time the daily value has exceeded the $1 million threshold.

Of those 184,000 UNI, 150,000 came from activity on Robinhood Chain. That blockchain, which had previously drawn attention for a six-minute outage and a memecoin boom, thus plays a dominant role in the current burning of UNI.

DEX volume on Robinhood Chain also breaks record

On the same day, daily DEX volume on Robinhood Chain reached the $3 billion threshold for the first time. Uniswap was responsible for 98% of that total volume, which explains why the UNI burn spiked so sharply.

The burn of UNI is directly linked to usage of the Uniswap protocol: the more trading activity, the more tokens are burned. The record day on Robinhood Chain therefore translates directly into the highest burn value in UNI’s history.