Uniswap Reaches $2 Trillion in Cumulative Trading Volume

Uniswap announced that the cumulative trading volume on its protocol has surpassed $2 trillion, continuing to hold its position as the top DEX since its launch in 2018.

Uniswap Hits $2 Trillion in Cumulative Trading Volume

In a post on the social media platform X (formerly Twitter) on the evening of April 5, 2024, Uniswap Labs revealed that the cumulative trading volume on their protocol has reached a historic milestone, exceeding $2 trillion.

Uniswap Labs also shared a link to Dune Analytics, which tracks the total trading volume at different stages of the protocol. According to the analytics site, Uniswap's trading volume in the past 24 hours was nearly $2.9 billion.

Uniswap's 24-hour trading volume as of April 5, 2024. Source: Dune Analytics

This announcement was almost a foregone conclusion for Uniswap users. Since its inception in 2018, Uniswap (UNI) has consistently maintained its position as the most used DeFi application on the Ethereum blockchain and remains one of the top 3 DEXs by trading volume.

Unlike centralized exchanges like Coinbase or Binance, Uniswap is a decentralized exchange with an open-source protocol. According to data from TheBlock Dashboard, Coinbase and Binance currently handle significantly higher trading volumes than Uniswap.

The milestone in Uniswap's trading volume can be attributed to the continuous positive efforts of its management team over the past few years. These efforts include various proposals such as diversifying the $5 billion treasury, revenue and fee sharing with users, and notably, the upcoming launch of Uniswap v4.