Uniswap has made history by becoming the first decentralized exchange (DEX) to cross $3 trillion in total trading volume, according to founder Hayden Adams. This achievement underscores Uniswap's position as the leading DEX, supported by data showing a current daily trading volume of over $3 billion and a 23% market share among DEX platforms.
The announcement was accompanied by acknowledgment of Uniswap’s active community and ongoing upgrades, notably the launch of Uniswap v4 in January, introducing lower gas costs and flexible trading tools. In February, Uniswap launched Unichain, a layer-2 network built on the OP Stack, enabling faster and cheaper trades compared to Ethereum’s mainnet and already processing over $4 billion in volume.
Despite this trading milestone, Uniswap’s total value locked (TVL) sits around $4.8 billion—less than half its 2021 peak, reflecting a broader contraction in decentralized finance (DeFi) TVL across the sector. The platform's monthly trading volumes remain robust, with substantial user engagement, and fee earnings recently fluctuating between $60 and $150 million monthly.
Uniswap also integrated support for Ethereum’s EIP-7702 following the Pectra upgrade, facilitating innovative account features such as transaction batching and enhanced smart contract functionality for users. Additionally, Uniswap is rolling out an EIP-7702-compatible wallet, aiming to further streamline user experience.
Uniswap's native token, UNI, recently rose 1.4% and is up over 40% in the past week, though it still trades significantly below its all-time high.