Uniswap's version 4 (v4) achieved a major milestone on July 27, 2025, surpassing $1 billion in Total Value Locked (TVL) just 177 days after launch. The protocol recorded over $110 billion in cumulative trading volume, with daily volume reaching $640.9 million and TVL across all chains hitting $1.02 billion. Layer 2 networks dominated activity, accounting for 67.53% of daily volume, with Unichain – Uniswap's native layer 2 – processing approximately 75% of all trades.
Key drivers include the deployment of over 2,500 Hooks, enabling customized liquidity pool rules that enhance user control. Projects Bunni and EulerSwap emerged as top contributors, each surpassing $1 billion in individual trading volume. Bunni leverages auto-compounding and cross-chain bridges (including Ethereum-Polkadot), while EulerSwap showed high trading activity despite lower TVL growth, highlighting diverse strategies within the ecosystem.
Concurrently, Uniswap's governance token UNI rallied to $11.02, marking a 4% 24-hour gain and 60% monthly surge. Trading volume spiked 25% to $427.5 million, with open interest rising 4.76% to $754.7 million. Technical analysis indicates UNI is testing resistance at $11.30, with the Relative Strength Index (RSI) at 71.30 suggesting overbought conditions. Analysts project that sustained adoption could propel UNI toward $15, contingent on user growth and competitive dynamics.