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Uniswap Surpasses $1.5 Trillion Trading Volume: Data
The crypto market has improved significantly this year, but volatility continued. Despite this, Uniswap managed to maintain its dominance in the decentralized market. In fact, it remains one of the largest decentralized exchanges in the ecosystem, holding over $4 billion in total value (TVL) across all blockchains. Another milestone is that the protocol officially surpassed $1.5 trillion in trading volume in April, according to data from Dune Analytics, according to Uniswap Labs, the crypto firm behind the DeFi trading platform. The trading volume on Uniswap has been increasing for quite some time. The regulatory crackdown in the USA and a...
Uniswap Surpasses $1.5 Trillion Trading Volume: Data
The crypto market has improved significantly this year, but volatility continued. Despite this, Uniswap managed to maintain its dominance in the decentralized market.
In fact, it remains one of the largest decentralized exchanges in the ecosystem, holding over $4 billion in total value (TVL) across all blockchains.
In another milestone, the protocol officially surpassed $1.5 trillion in trading volume in April, with Uniswap Labs, the crypto firm behind the DeFi trading platform, listing Data by Dune Analytics.
The trading volume on Uniswap has been increasing for quite some time. The regulatory crackdown in the US and a banking crisis that led to the USDC stablecoin depegging sparked an influx of investors on decentralized exchanges in the first quarter of the year. This gave a big leg up to Uniswap as investors rushed to the platform to exchange USDC for wrapped Ether and other tokens.
After recording $70 billion in trading volume in March alone, Uniswap has upended its centralized counterpart, Coinbase, for the second month in a row. While the platform has seen its trading volume surge during turbulent times, previous spikes were brief. This suggested that the popular DEX may not be able to hold the lead for long.
But Uniswap has also seen a surge in transaction numbers. The increased activity comes amid a “memecoin frenzy,” sparked largely by Pepe (PEPE), a new memecoin that launched last week and has since exploded in value. As a result, daily active users on Uniswap recently rose to nearly 85,000, marking a notable high since May 2021.
Uniswap Mobile Wallet
The latest surge comes just a week after Uniswap announced the launch of a mobile wallet application to encourage wider adoption of DeFi wallets and support trading on the go.
The new product offering aims to allow users to purchase crypto with a 2.55% fiat on-ramp fee. It also allowed users to exchange funds on popular DeFi platforms such as Polygon, Arbitrum and Optimism.
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