Uniswap captures 98% of Coinbase stock token deposits on Base
Uniswap (UNI)
Editor:
Eugene Serbin
Cryptobriefing.com reports that Uniswap now holds over 98% of Coinbase-issued stock token deposits across DeFi venues on the Base network. The leading decentralized exchange accounts for $943,200 of the $960,300 total value held in these tokens. Coinbase launched its B20-standard tokenized US stocks on Base, allowing fractional ownership of shares in companies like Apple, Nvidia, Meta, and Alphabet.
These tokens are available to eligible non-US users and trade continuously, separate from traditional market hours. Each token is backed 1:1 by real underlying shares held by broker-custodian Alpaca in a bankruptcy-remote structure regulated by the Abu Dhabi Global Market. The B20 standard is a Base-native extension of ERC-20 that manages corporate actions like dividends and stock splits.
At launch, DeFi integrations included liquidity on Aerodrome and Uniswap, plus lending on Aave, Morpho, and Euler. Day-one metrics showed approximately $4.5M minted and $10.8M in trading volume. Current data reveals a lopsided distribution, with Uniswap dominating while Aerodrome holds only a sliver of the deposits.
Lending protocols like Aave and Euler facilitate borrowing rather than spot trading liquidity. The restriction to non-US users reflects regulatory complexities in the US market. The gap between minted tokens and DeFi deposits suggests many tokens remain in wallets rather than being deployed.
How the market reacted
Whalio's own Binance spot order flow for UNI, measured when this story was written up on 26 August 2026. Not the outlet's figures.
Uniswap is currently trading at $4.38 with a 1-hour buy ratio of 58.0%, indicating strong short-term buying pressure. This 1-hour ratio is higher than the 4-hour reading of 50.8% and the 24-hour average of 48.7%, suggesting that buying momentum is building rather than fading. The volume delta of +$333,678 in the last hour shows net inflows, contrasting with the -$358,452 outflow seen over the past day. A positive volume delta means buyers are executing more trades than sellers, pushing the cumulative volume delta to +$1,317,361 by the 24-hour close. Spot volume reached $14,496,002 over the last day across 109,513 trades. Net buying occurred for 16 of the last 24 hours, confirming a preference for accumulation in the immediate term.
The latest daily buy ratio of 45.7% sits at the 13th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What UNI did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for UNI, averaged over the days leading up to the story.
Over the preceding week, UNI saw a 7-day average buy ratio of 50.9%, making today's 24-hour ratio of 48.7% slightly below the weekly norm by 2.2 points. Volume today was 0.42x the weekly average, indicating a quieter trading day than usual. Despite lower volume, the price rose 20.5% over eight days, driven by a total volume delta of +$2,987,070. Net buying occurred on 6 of the 7 days in the preceding week. This recent performance marks a strong upward trend, though today's volume is notably subdued compared to the weekly average.