TLDR
- Uniswap becomes first decentralized exchange to reach $3 trillion in all-time trading volume
- Current daily volume is approximately $3-3.3 billion with 23% DEX market share
- UNI token trades at around $7, down 84% from its 2021 peak of $45
- Uniswap is developing a 7702 wallet to enable one-click swapping
- UNI price has increased 38.6% over the past week showing strong momentum
Uniswap has made crypto history by becoming the first decentralized exchange (DEX) to reach $3 trillion in all-time trading volume. The platform’s founder Hayden Adams announced the milestone on May 12, sharing a screenshot from Dune Analytics that documented the achievement.
The exchange currently handles about $3.3 billion in daily trading volume according to Dune, though DeFiLlama reports a slightly lower figure of $3 billion. Either way, this puts Uniswap in the leading position among DEXs with a 23% market share.
PancakeSwap follows as the second-largest DEX with $2.7 billion in volume and a 21% market share.
Despite the impressive volume numbers, Uniswap’s total value locked (TVL) stands at just under $5 billion. This is roughly half of its all-time high reached in 2021.
Uniswap is the first DEX to $3T volume 🦄
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
— Hayden Adams 🦄 (@haydenzadams) May 12, 2025
The broader DeFi sector shows similar patterns, with overall TVL at $124-132 billion according to different tracking platforms. Ethereum-based protocols account for more than half of this total.
Price Performance Shows Strong Recent Momentum
While Uniswap’s platform usage has reached record levels, its native token UNI hasn’t kept pace with this growth. UNI currently trades around $7.03, which is 84% below its May 2021 peak of $45.
The token’s price has shown recent strength, however. UNI has gained 38.6% over the past seven days, indicating growing market interest.
The token now has a market cap of $4.42 billion with a 24-hour trading volume of $485.64 million.
Technical analysis shows UNI forming a pattern of higher highs and higher lows, typically considered a sign of a healthy uptrend. After reaching above $7.5, some selling pressure emerged, leading to a temporary pullback.
The Bollinger Bands have widened, suggesting increased volatility. The Relative Strength Index (RSI) has decreased from 78.58 to 68.67, moving back from overbought territory but still indicating bullish momentum.
Support levels around $6.5-7.0 appear to be holding, which could provide a foundation for continued upward movement if maintained.
Uniswap Developing Smart Wallet Functionality
Beyond its trading volume achievements, Uniswap is working on expanding its ecosystem. Adams announced on May 12 that the platform is “rolling out our own 7702 wallet and supporting other 7702 wallets… with the goal being one-click swapping for all users.”
we're rolling out our own 7702 wallet and supporting other 7702 wallets through EIP 5792
with the goal being 1 click swapping for all users
— Hayden Adams 🦄 (@haydenzadams) May 12, 2025
This development follows the recent Ethereum Pectra upgrade on May 7, which implemented EIP-7702. This Ethereum Improvement Proposal enhances account security against potential quantum computing threats and allows externally owned accounts to temporarily function as smart contracts during transactions.
Trust Wallet has already launched a compatible upgrade for its users, and Uniswap is set to follow with its own implementation.
The move toward easier, one-click swapping could help Uniswap maintain its competitive edge in the DEX space and potentially drive further volume growth.
The convergence of record-breaking volume metrics and technical innovations positions Uniswap as a continuing leader in decentralized trading infrastructure.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
