Uniswap Surpasses $2 Trillion Milestone in Trading Volume

Uniswap, the decentralized alternate (DEX) pioneer, has achieved a big milestone by surpassing $2 trillion in all-time buying and selling quantity.

This achievement marks a historic second for the platform, occurring 5 and a half years after its launch in November 2018.

Uniswap’s $2 Trillion Milestone

In keeping with data from a Dune Analytics dashboard compiled by Uniswap’s technique and operations lead, Zach Wong, the DEX’s all-time buying and selling quantity stands at $2,000,002,099,397 with its 24 hour buying and selling quantity being $2,873,869,703.

The info additionally reveals that the $2 trillion milestone was reached at roughly 11:55 a.m. UTC on April 5.

The buying and selling quantity determine consists of transactions throughout varied blockchains supporting Uniswap, resembling Ethereum, Polygon, Optimism, Arbitrum, Celo, BNB Chain, Base, Blast, and the Avalanche Community.

Uniswap’s widespread adoption and compatibility throughout a number of networks have contributed to its outstanding progress trajectory.

Uniswap Labs had informed the group concerning the impending milestone, asserting on April 4 at 6:00 p.m. UTC that $2 trillion was anticipated to be reached inside the following 24 hours.

Anticipating Uniswap Protocol to hit $2T in all-time quantity within the subsequent 24 hours 👀

So we’re doing a factor

The primary particular person to refresh our countdown Dune question to point out 2T all-time quantity will get 200 USDC

take part 👇

— Uniswap Labs 🦄 (@Uniswap) April 4, 2024

Moreover, as an incentive for group engagement, Uniswap Labs pledged to switch $200 in USD Coin (USDC) to the primary particular person who captured and submitted a video clip refreshing the Dune Analytics dashboard, showcasing Uniswap’s buying and selling quantity crossing the $2 trillion mark.

Uniswap’s Buying and selling Dominance

Uniswap is a number one decentralized crypto alternate that runs on the Ethereum blockchain. Launched 5 years in the past in November 2018, the platform allows computerized exchanges of digital belongings on Ethereum via the usage of sensible contracts.

Following its launch, it took 42 months to reach the $1 trillion milestone in buying and selling quantity, achieved in Could 2022. Since then, it has continued to increase its person base and buying and selling exercise, solidifying its place because the main DEX out there.

Uniswap’s dominance within the decentralized alternate house stays unmatched, with a $21.6 billion in buying and selling quantity recorded over the previous week alone, based on data from a Dune Analytics dashboard curated by one of many platform’s founders, Fredrik Haga.

As compared, PancakeSwap, a fork of Uniswap, ranks second with $9.6 billion in buying and selling quantity, adopted by Curve, Balancer, and Dealer Joe, with buying and selling volumes of $1.7billion, $1 billion and $800 million respectively.