Uniswap becomes first DEX to surpass $3 trillion in trading volume

Decentralized exchange Uniswap has officially processed over $3 trillion in cumulative trading volume, becoming the first platform of its kind to hit this milestone.

Crypto market: major developments in brief

The crypto market delivered a wave of major developments this week, blending record-breaking milestones with bold moves from both the public and private sectors.

From Ukraine moving toward crypto reserves to stablecoins edging closer to institutional mainstream, here are some of the most important developments of the week in crypto.

Uniswap becomes first DEX to surpass $3 trillion trading volume

Decentralized exchange Uniswap has officially processed over $3 trillion in cumulative trading volume, becoming the first platform of its kind to hit this milestone.

The figures from DeFi analytics firm Token Terminal on Wednesday show Uniswap’s integrated protocol volume has surpassed $3 trillion, a record in the decentralized exchange domain.

This milestone underscores Uniswap’s growing dominance in decentralized finance (DeFi), with Layer 2 scaling and protocol upgrades driving sustained user activity.

Uniswap v4, launched in January, and the subsequent launch of its custom Layer 2 Unichain have helped reduce gas fees and attract over $4 billion in trading volume.

Founder Hayden Adams shared the news on X, highlighting the step toward decentralizing the global finance system.

Uniswap is the first DEX to $3T volume

Bet its the first to 10Grateful to everyone who swapped along the way as we decentralize the global finance system

Despite the momentum, the protocol’s total value locked (TVL) remains well below 2021 highs, mirroring broader DeFi contraction.

Bitcoin ETFs record lowest inflows in a month despite BTC $2T market cap

Bitcoin’s recent surge past $105,000 has not translated into a spike in institutional demand. On Monday, Bitcoin ETFs saw just $5 million in net inflows, marking their weakest day since mid-April.

While BlackRock’s iShares Bitcoin Trust (IBIT) logged $69.4 million in inflows, Grayscale’s Bitcoin Trust (GBTC) posted $32.9 million in outflows, reflecting cautious sentiment.

Data from Glassnode indicates that retail buyers are still active, with “First-Time Buyers RSI” holding at 100, but momentum traders remain on the sidelines with an RSI of just 11.

Analysts warn that unless ETF demand picks up again, the $105,000 level may act as a resistance ceiling.

Ukraine to introduce bill allowing Bitcoin as a national reserve asset

Ukraine is preparing legislation that would authorize its central bank to hold Bitcoin in its national reserves, which could make it the first country in Europe to do so.

The bill, which is set to be introduced in parliament soon, will allow the National Bank of Ukraine to hold and manage BTC in its portfolio, according to lawmaker Yaroslav Zhelezniak.

The proposal, which has been discussed on social media and by some prominent sources, suggests that the country aims to acquire up to 40,000 BTC for its reserves.

The move comes amid ongoing conflict and economic uncertainty in Ukraine, and it is being supported by Binance, which is providing technical and legal advice.

Solana tops Ethereum L2s as DeFi momentum builds

Solana’s network activity and revenue metrics are surging, with its $10.9 billion total value locked (TVL) now exceeding the combined TVL of all Ethereum Layer 2 networks.

According to DefiLlama, Solana’s 30-day fee revenue has climbed 109% over the past month to $43.4 million, driven by growth in DApps like Raydium and Marinade.

Despite recent struggles to hold above $180, SOL’s 8% perpetual funding rate signals strong bullish sentiment among leveraged traders.

Analysts say this trend could push SOL toward $200, especially if talk of a potential U.S. spot Solana ETF gains traction.

South Korea’s Democratic Party launches Digital Asset Committee

South Korea’s ruling Democratic Party has officially launched a Digital Asset Committee to spearhead regulatory development and support crypto industry growth.

The committee convened for its inaugural meeting on May 13 at the National Assembly Members’ Hall in Seoul, according to local outlet News1.

Discussions centered on stablecoin regulation and the country’s restrictive “one exchange, one bank” policy, which limits trading platforms to a single banking partner.

Executives from major domestic exchanges like Upbit, Bithumb, Coinbit, and Gopax participated in the session.

Committee members are also working alongside regulators to determine whether oversight of stablecoins should fall under the Financial Services Commission or the Bank of Korea.

The initiative highlights mounting political engagement in shaping digital asset policy as part of broader financial reforms.

BTCS raises $57.8M to expand Ethereum staking operations

Blockchain infrastructure firm BTCS, a Nasdaq-listed company, has secured a $57.8 million financing deal to deepen its involvement in the Ethereum ecosystem.