Uniswap Sets New Record with $38B Monthly Volume

Uniswap has achieved a major milestone in the decentralized finance (DeFi) space, setting a new all-time record with $38 billion in monthly trading volume across Ethereum layer-2 platforms. This impressive figure, reported by Dune Analytics, surpasses the previous high of $34 billion recorded in March 2024.

The record-breaking volume was driven by substantial contributions from Ethereum layer-2 scaling solutions like Arbitrum, Base, and Polygon. Arbitrum led the charge, contributing $19.5 billion to Uniswap’s total volume, followed by Base with $9.19 billion and Polygon with $4.33 billion. This represents a nearly 50% increase from October 2024, where Uniswap’s volume was $20.32 billion.

Uniswap’s rise is not just reflected in volume but also in its revenue and fee rankings. According to DeFi Llama, Uniswap ranks sixth among DeFi protocols by fees and revenue, surpassing major platforms like Tron and Maker, but trailing behind Solana.

In addition to record-breaking trading volumes, Uniswap’s native token, UNI, has seen a significant surge. UNI’s price rose nearly 10% in the last 24 hours and has increased by nearly 45% over the past week, fueled by the broader crypto rally. With a market cap of $7.7 billion, UNI ranks 26th in the market, boasting a fully diluted valuation of $12.9 billion and a circulating supply of 600 million tokens.

This surge in both trading volume and token performance suggests a resurgence of interest in decentralized finance and positions Uniswap as a major player in the ongoing DeFi revolution.

Similarly, Solana also set a new monthly trading volume record for its decentralized exchange (DEX), reaching $109.73 billion in November, up more than 50% from October’s $52.49 billion. This growth in Solana’s DEX volume and Uniswap’s record-breaking performance highlights the increasing prominence of decentralized finance platforms and their growing influence in the crypto ecosystem.