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Uniswap Hits Historic $3 Trillion Milestone in Cumulative Volume - Crypto Economy
TL;DR
Uniswap has just set a new record in its history as a decentralized exchange. The platform surpassed $3 trillion in cumulative trading volume, becoming the first DEX to achieve this figure.
The news was shared by its founder, Hayden Adams, through his X account, along with a screenshot of the real-time metric. This volume demonstrates the scale of trading activity the platform has sustained since its launch, although its total value locked (TVL) remains far from the levels reached in 2021.
Currently, Uniswap maintains a daily volume of around $3.3 billion, positioning it as the most active DEX on the market. DeFiLlama estimates its share at 23% of the total daily trades across these platforms. Behind it is PancakeSwap, which registers $2.7 billion in daily trades and holds a 21% market share. However, the capital locked in UNI is around $5 billion, about half of its all-time high, in line with the general contraction of the DeFi ecosystem.
Uniswap is Working on Its Own Smart Wallet
Beyond the numbers, the platform announced a new development aimed at improving the user experience. Uniswap is working on its own smart wallet compatible with the new EIP-7702 specification recently introduced on Ethereum. This upgrade allows externally owned accounts to behave like smart contracts during transactions. The proposal, driven by Vitalik Buterin, seeks to optimize the security and flexibility of operations, particularly in anticipation of potential future technological challenges.
A Lot of Ground to Cover
Other wallets, such as Trust Wallet, are already compatible with this update, and Uniswap plans to integrate it to enable one-click swaps. While the platform’s activity numbers are high, its native token, UNI, has not kept pace. It is currently trading near $7, a 1.5% daily increase, but 84% below its all-time high from 2021.
Uniswap continues to adjust its infrastructure and operations, adapting to the new conditions of the crypto market and the innovations Ethereum is introducing in its network architecture.