Uniswap hits $3T in total trading volume
Uniswap hits $3 trillion trading volume, first DEX to achieve milestone.
Uniswap has reached a new benchmark, becoming the first decentralized exchange to surpass $3 trillion in cumulative trading volume.
Founder Hayden Adams announced the milestone on May 12 via a post on X, expressing gratitude to the platform’s users and hinting at further developments, reports Crypto News.
Despite the trading volume surge, Uniswap’s total value locked (TVL) stands at $4.8 billion, less than half of its 2021 peak as the broader DeFi market continues to contract.
Platform enhancements drive volume but not value locked
Uniswap’s trading volume remains robust, averaging over $150 billion monthly in 2025, though fee revenue has declined from $150 million in January to just over $60 million in April. Recent upgrades, including the launch of Uniswap v4 and the Unichain layer-2 network, have contributed to the platform’s continued activity.
Unichain, built on the OP Stack and launched in February, has processed more than $4 billion in transactions, offering faster and cheaper trades than Ethereum’s main network.
UNI token gains but still far from ATH
Following Ethereum’s Pectra upgrade on May 7, Uniswap implemented EIP-7702, enabling features like transaction batching and gas sponsorship without requiring a full smart contract migration. UNI, Uniswap’s governance token, has gained 1.4% as of press time and is up 40% in the past week. Despite recent gains, UNI remains down over 80% from its all-time high of $44.92 set in May 2021, reflecting broader DeFi market struggles.
Recently we wrote that Pump.fun, a Solana-based meme coin launch platform, generated $2 million in revenue within 24 hours, surpassing Tron and trailing only stablecoin giants Tether and Circle.
