Uniswap Surpasses $3 Trillion in Total Trading Volume to Become the First DEX to Achieve This Milestone

Uniswap has surpassed $3 trillion in total trading volume to become the first decentralized exchange to set such a record. The achievement reflects the increased dominance of decentralized finance (DeFi) platforms

Uniswap has hit a major milestone with over $3 trillion in total trading volume, making it the first decentralized exchange to reach such a record. The achievement underscores the increasing role of decentralized finance platforms in the cryptocurrency space.

Increased Use Of Decentralized Exchanges (DEX) Fuel Uniswap's Growth

The increased use of decentralized exchanges (DEX) has contributed to Uniswap’s growth.

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 🌐 pic.twitter.com/945Ab0Jpsl— Uniswap (@Uniswap) July 12, 2024This surge in volume marks a major development for Uniswap, which was launched in 2018. Uniswap controls approximately 23% in daily trading volume, which further solidifies its position as leader in the decentralized exchange space.

Uniswap has seen its volume double after every two years. Uniswap hit $1 trillion in trading volume in May 2022 and $2 trillion in April 2024.

Uniswap’s growth follows a rise in the use of decentralized finance, particularly the price appreciation of Bitcoin and other cryptocurrencies. Uniswap aims to strengthen its position in the decentralized exchange (DEX) market despite regulatory hurdles and price fluctuations.

Uniswap’s Faces Market, US Regulatory Countertops

Uniswap faced increased regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC). However, Uniswap’s emerged as a top DEX despite market hurdles, which boosts its appeal in the crypto market.

Uniswap’s native token, UNI, continues to face challenges despite the platform’s performance. The token has seen more than an 80% decline from its all-time high price of $45 in May 2021, which demonstrates the overall volatility in the crypto market. However, UNI teased its previous peak in May 2025 to trade at $6.85 after the recent rise in the crypto market.

Uniswap’s Smart Wallet

Furthermore, Uniswap recently announced the launch of the platform’s smart wallet, which is compatible with Ethereum’s EIP-7702 upgrade. The EIP-7702 upgrade protects Ethereum accounts from quantum threats and improves the efficiency of transactions.

we're rolling out our own 7702 wallet and supporting other 7702 wallets through EIP 5792 with the goal being 1 click swapping for all users

— Uniswap (@Uniswap) July 11, 2024

Uniswap’s Total Value Locked (TVL) sits below $5 billion and about 50% below its previous all-time high. The situation is similar across DeFi, where TVL has seen a substantial decline after its peak in late 2021. DeFiLlama and DappRadar reports indicate that the entire DeFi market is now valued between $124 billion and $132 billion.

Although other platforms such as PancakeSwap follow behind, Uniswap’s steady performance in volume and market share strengthens its dominance in the decentralized exchange (DEX) market. With its continuous innovations, Uniswap is poised for substantial growth in future.