Uniswap Labs recently surpassed a significant milestone, announcing that the trading volume on its protocol has exceeded $2 trillion since its inception.
As the most popular decentralized exchange (DEX) in terms of trading volume, Uniswap continues to dominate the Ethereum DeFi ecosystem since its launch in 2018.
Since its launch in 2018, Uniswap has established itself as one of the most widely used DeFi applications on the Ethereum blockchain and the most visited DEX in terms of trading volume. This announcement underscores Uniswap’s significant impact in the world of decentralized finance, despite the rise of many competitors.
Uniswap Labs shared this news on X, offering a real-time countdown. The company also published a link to a Dune dashboard that tracks the protocol’s total trading volume. According to this dashboard, the 24-hour trading volume on Uniswap was nearly $2.9 billion.
Unlike centralized exchanges such as Binance, Bitpanda, Coinbase, and Kraken, Uniswap is a decentralized exchange with an open-source protocol. While Coinbase and Binance, two centralized exchanges, currently handle significantly higher trading volumes than Uniswap, the latter’s achievement represents an important step in democratizing access to financial services and promoting a more open and decentralized financial system.
In the realm of decentralized exchanges, many competitors are joining the landscape, with trading-focused protocols such as dYdX, HyperLiquid, Aevo, and DEXs similar to Uniswap, like Jupiter on Solana.
