Uniswap Becomes First DEX to Hit $3 Trillion in All-Time Volume

Uniswap Crosses $3 Trillion in Total Trading Volume Uniswap has officially reached the milestone of being the first decentralized exchange (DEX) to reach $3 trillion in total trading volume, a significant achievement for the DeFi space. Uniswap founder Hayden Adams celebrated the milestone in a May 12 X post , sharing a screenshot of a Dune Analytics dashboard monitoring the approaching total. As of this writing, Dune statistics report Uniswap’s daily volume at $3.3 billion, while DeFiLlama trails slightly at $3 billion, reflective of its 23% of the total DEX trading volume. DEX Market Landscape: Uniswap Leads, PancakeSwap in Second Place Uniswap is still the decentralized exchange market leader. It has the biggest market share by way of daily trading volume, far ahead of PancakeSwap with 21% at $2.7 billion in daily trades. In spite of this hegemony, Uniswap’s value locked (TVL) stands at slightly less than $5 billion—roughly half of its height during the DeFi bubble late in 2021. The aggregate DeFi TVL also indicates this shrinking to, between, $124 billion (DeFiLlama) and $132 billion (DappRadar), with Ethereum still the main network. UNI Token Trails Platform Performance As Uniswap’s platform metrics skyrocket, its native coin UNI has not followed suit. Currently trading for about $7.16, UNI is still over 84% off its May 2021 record of $45. The token declined 3.4% in a day as of reporting, based on CoinGecko. Uniswap Smart Wallet Coming soon with EIP-7702 Support In a separate development, Hayden Adams made a statement that Uniswap is releasing its own 7702-compatible smart wallet and will also support other 7702 wallets. The move is to enable frictionless one-click swaps for consumers. This follows Ethereum’s May 7 Pectra upgrade, which activated EIP-7702—a proposal made by Vitalik Buterin. The upgrade allows externally owned accounts to act like smart contracts during transaction time and includes quantum-resistant components. Trust Wallet already has these features in place, and Uniswap is now in a good position to do the same with native integration.

Source: BTC Pulse