Uniswap just hit a mind-blowing $3 trillion in all-time volume, officially making it the first decentralized exchange (DEX) to hit this monumental number. Talk about making history!
Uniswap’s founder, Hayden Adams, took to X on May 12 to share the glory, posting a screenshot of a Dune Analytics dashboard showing the countdown to the big milestone. That's a serious flex for the DEX giant.
Uniswap is the first DEX to $3T volume 🦄
— Hayden Adams 🦄 (@haydenzadams) May 12, 2025
Bet its the first to 10
Grateful to everyone who swapped along the way as we decentralize the global finance system 🌐 pic.twitter.com/945Ab0Jpsl
Right now, Uniswap is also doing some heavy lifting in daily volume, with a whopping $3.3 billion, according to Dune. DeFillama also chimes in, reporting Uniswap’s dominant 23% market share in daily volumes, just a tiny bit lower at $3 billion in the past 24 hours.
But let’s not forget about the competition. The second-place finisher, PancakeSwap, is trailing behind with $2.7 billion and a 21% share of the DEX market.
In terms of total value locked (TVL), Uniswap is sitting pretty with just under $5 billion. However, it’s not quite as pumped as it was in 2021 when its TVL hit an all-time high. Overall, DeFi TVL is sitting at around half of its late-2021 levels.
DeFillama reports a current DeFi TVL of $124 billion, while DappRadar pegs it at $132 billion, with Ethereum holding over half of the total.
While Uniswap's performance is a sight to behold, its native currency, UNI, is still behind the curve. At $7.09 right now, UNI is down more than 84% from its May 2021 high of $45. What a ride! As of today, UNI has fallen 3.4% during the day.
But here's the kicker: Uniswap's not done yet. On May 12th, Adams made public the rollout of the new 7702 smart wallet. This wallet's going to make swapping a breeze like never before, and one-click swapping for all is the promise it makes.
we're rolling out our own 7702 wallet and supporting other 7702 wallets through EIP 5792
— Hayden Adams 🦄 (@haydenzadams) May 12, 2025
with the goal being 1 click swapping for all users
Vitalik Buterin's EIP-7702 Ethereum Improvement Proposal became active with the rollout of the Pectra update on May 7th, enabling this new and exciting feature.
With other players like the Trust Wallet already jumping aboard the smart account bandwagon, Uniswap is now set to follow suit, giving users more reasons to keep their breath.
HODL Team
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