Loading...

Uniswap hits milestone $2 trillion all-time trading volume

In this post:

  • Uniswap has hit a milestone of $2 trillion in all-time trading volume since its launch in November 2018.
  • Dominance in the decentralized finance sector.

Uniswap has hit a remarkable milestone figure of above $2 trillion in terms of its all-time trading volume. According to data compiled by the platform’s strategy and operations lead Zach Wong and tracked on Dune Analytics, the decentralized exchange (DEX) hit the milestone figure at 11:55 am UTC. Notably, the firm is hitting the milestone five years and some months after it started its service in 2018.

Uniswap posts milestone $2 trillion trading volume

Uniswap Labs organized a competition on April 4 on its X (formerly known as Twitter) handle, intimating users of the incoming milestone. The firm expected to hit the milestone soon and asked its users to try and record the exact time that it hits the $2 trillion mark to win a $200 USDC prize.

Presently, the DEX is boasting an all-time trading volume of $2,000,606,587,939. With the new milestone achievement, Uniswap now has a larger gross domestic product than some countries.

The DEX has been one of the most used on Ethereum and has the highest trading volume by a DEX. The platform’s trading volume can be tracked across the several blockchain that supports it. Some of these blockchain include Base, Arbitrum, Celo, Polygon, Avalanche, and Ethereum network. Before this milestone, the firm celebrated its $1 trillion trading volume milestone, which it hit on May 22, 42 months after it launched.

Dominance in the decentralized finance industry

This milestone didn’t take as much time, crossing it in less than 24 months, despite the several competitions in the sector. Unlike centralized exchanges like Coinbase and Binance, Uniswap is a DEX with an open-source code. In February, the Uniswap Foundation proposed to augment the fee mechanism to reward users staking their UNI tokens on the exchange.

The decentralized exchange is not leaving its top spot in terms of trading volume, accumulating a total trading volume of over $21.6 billion last week. Uniswap fork, PancakeSwap is currently second, with its trading volume at $9.6 billion. The top 5 consist of Curve, Balancer, and Trader Joe with their volumes between $800 million and $1.8 billion.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Congressman Emmer: 'Ban CBDCs to Prevent Biden's Surveillance Agenda'
Cryptopolitan
Subscribe to CryptoPolitan