Uniswap V4 Now Holds 31% of Tokenized Stock Liquidity

Liquidity in the tokenized stock segment is increasingly concentrating on Uniswap [UNI] V4 as the niche expands its DeFi presence. Uniswap V4 currently holds $59.1 million in liquidity, about 31% of the sector's $192.6 million total, and sits ahead of competing venues on depth. Greater liquidity typically supports higher trading volumes, which can translate into increased investor participation. Kamino ranks second with $41.7 million, while Uniswap V3 is third at $20.9 million, underscoring a shift toward newer infrastructure. Source: Token Terminal. Together, the top three platforms account for 63% of total value locked (TVL), leaving smaller venues fighting over a shrinking pool of deposits. With sector TVL up 2,218.8%, additional inflows into V4 could further entrench its lead and strengthen Uniswap's position as tokenized stock trading scales. Uniswap fee switch puts UNI burns back in focus Rising activity is also beginning to show up in UNI's token economics. As Uniswap V4 captures more tokenized stock flow, daily revenue recently climbed toward $600,000, lifting the annualized run-rate to roughly $220 million. Higher revenue increases the amount of capital available for UNI burns once the fee switch is implemented, reducing circulating supply as protocol usage grows. Recent revenue spikes above $400,000 suggest value capture improves during heavier trading periods. Source: Token Terminal. In addition, Uniswap V3 is reported to support daily burns of about $598,000, while V4 is already generating more than $10 million in daily fees. That mismatch highlights how much revenue sits outside the current burn loop. Extending the mechanism to V4 could materially accelerate UNI removals, making growing V4 usage more directly linked to scarcity and stronger token value capture. Arthur Hayes adds to UNI demand With UNI's economics improving, large holders appear to be positioning for the same supply-tightening narrative. BitMEX cofounder Arthur Hayes received 244,406 UNI worth $1.73 million via Flowdesk, increasing his exposure. Source: X. By using an over-the-counter (OTC) route, the purchase likely minimized near-term market impact and avoided pushing prices higher on exchanges. Source: X. New wallets also added another $2.9 million, while exchange balances dropped by more than 350,000 UNI, pointing to net absorption rather than distribution. Hayes additionally transferred $250,000 USDC to FalconX, leaving room for potential follow-on buys. Final takeaway Uniswap [UNI] is drawing tokenized stock liquidity to V4, while rising revenue strengthens the potential for UNI burns. Whale accumulation alongside falling exchange balances could further tighten UNI supply.