Uniswap Protocol Surpasses $3T in All-Time Trading Volume, Cementing Its Position as the First DEX to Do So

The Uniswap protocol has reached a significant milestone by surpassing $3 trillion in all-time trading volume, cementing its position as the first decentralized exchange (DEX) to do so.

The Uniswap protocol has reached a significant milestone by surpassing $3 trillion in all-time trading volume, becoming the first decentralized exchange (DEX) to achieve this feat.

Uniswap founder Hayden Adams highlighted this achievement in a recent post, sharing an image from Dune Analytics that tracks these on-chain records.

Uniswap's Latest Daily Volume Drops Slightly, Still Leading DEXes with 23% Share

Despite this milestone, the latest data from DeFillama shows a slight decrease in Uniswap's daily volume, which stands at approximately US$3 billion.

However, Uniswap maintains a strong lead among DEXs, controlling 23% of the total. PancakeSwap follows in second place with US$2,7 billion traded daily and a 21% share of the market.

While transaction volume remains high, Uniswap's total value locked (TVL) is still below $5 billion. This aligns with a broader decline across the DeFi sector since its peak in 2021, where total TVL exceeded $250 billion.

Uniswap's native token, UNI, saw a 3,4% decrease on the day of the announcement, trading at around $7.

However, the asset has experienced a 6% increase in the last 24 hours and a significant 38,6% surge in the last week.

As a result, UNI's market value has risen to $4,42 billion, with a daily trading volume of $485 million.

In related news, Uniswap is developing its own 7702 wallet, which supports EIP-5792. This new feature allows externally owned accounts to temporarily act as smart contracts, enhancing usability and security in the face of challenges such as quantum computing.

The EIP-7702 proposal, introduced with Ethereum's Pectra upgrade, is also adopted by wallets such as Ambire and Trust Wallet, enabling smart account functionality without the need to create new addresses. These solutions enable bundled transactions and fee payments in tokens other than Ether, such as stablecoins.

Trust Wallet confirmed that the update will provide stablecoin gas payments and support for sponsored transactions, where third parties cover the fees. Uniswap plans to follow suit, making decentralized exchanges more accessible to the average user without requiring new sign-ups or seed phrases.