Key Takeaways:
- Uniswap becomes the first DEX to surpass $3 trillion in all-time trading volume, maintaining a 23% market share.
- Despite high usage, Uniswap’s TVL is under $5B—about half its 2021 peak—and UNI remains 84% below its all-time high.
- Founder Hayden Adams announced a new 7702 wallet to support one-click swaps, aligning with Ethereum’s latest upgrade.
Uniswap has become the first decentralized exchange (DEX) to surpass $3 trillion in all-time trading volume, marking a major milestone for the decentralized finance (DeFi) ecosystem.
Announced by founder Hayden Adams on May 12, the platform is now handling around $3.3 billion in daily trading volume, according to Dune Analytics.
Uniswap is the first DEX to $3T volume 🦄
— Hayden Adams 🦄 (@haydenzadams) May 12, 2025
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
DeFiLlama data shows Uniswap holds a 23% market share, surpassing PancakeSwap’s 21% with $2.7 billion in daily volume.
Despite this trading dominance, Uniswap’s total value locked (TVL) remains below its 2021 peak, currently just under $5 billion.
The broader DeFi market has also contracted, with total TVL sitting at $124–$132 billion, over half of which resides on Ethereum.
Meanwhile, Uniswap’s native token, UNI, hasn’t mirrored usage growth—it’s still trading over 84% below its all-time high of $45, now priced just above $7.
In addition to the trading achievement, Uniswap announced support for Ethereum’s new EIP-7702 wallet standard, introduced with the May 7 Pectra upgrade.
The Uniswap Protocol just crossed $3T in all-time swap volume
— Uniswap Labs 🦄 (@Uniswap) May 11, 2025
DeFi is here to stay 🦄 pic.twitter.com/xd2jJ7094e
This enables wallets to act like smart contracts temporarily and adds resistance to quantum computing threats.
Uniswap plans to launch its own “7702 wallet” to enable one-click token swapping, following Trust Wallet’s lead in adopting the standard.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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