Decentralized Exchange Uniswap Surpasses $1T in Total Trading Volume

  • Uniswap can be considered the largest DEX by trading volume, having surpassed $1 billion in trading over the past 24 hours.
  • Uniswap was able to onboard millions of users to the world of DeFi, lower the barrier for liquidity providers, and also introduced fair and permissionless trading.
Uniswap V3 TVL and trading volume stats

Uniswap V3 TVL and trading volume stats. Uniswap

Even though it was first launched in 2018, popular decentralized exchange (DEX) Uniswap has already surpassed $1 trillion in total trading volume, the exchange said via Twitter on 24 May.

The team behind the protocol further noted that over the past three years Uniswap was able to onboard millions of users to the world of decentralized finance (DeFi), lower the barrier for liquidity providers, and also introduced fair and permissionless trading. All of this was achieved with a relatively small user base, with data from Uniswap Labs showing the the number of cumulative addresses on Uniswap hit 3.9 million just this month.

According to data from CoinGecko, Uniswap is considered the largest DEX by volume, having $1 billion in trading over the past 24 hours, which represents around 35% of the total market share. Uniswap lags behind several centralised exchanges — Binance having $12.7 billion, FTX $2.1 billion, and Coinbase $1.8 billion in volume — though it is still ahead of some big players in crypto, namely Crypto.com and Kraken.

Although it was originally an Ethereum-based project, over the past three years Uniswap has expanded its reach across the DeFi ecosystem, and is now also available on layer-2 scaling solutions Polygon, Optimism, and Arbitrum. The DEX is also planning to soon expand to two more Ethereum Virtual Machine (EVM) compatible chains, those being Gnosis Chain and Moonbeam Network.

Last month, Uniswap Labs — the entity behind the popular DEX — formed a new venture capital fund focused on investing into web3 projects and technologies at any state of their development. Uniswap Labs Ventures (ULV) will not only invest in projects, but also provide its experience and knowledge in the space to scale their strategy, product, partnerships, engineering, and design.

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April 12, 2022, 9:44 AM
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