Uniswap Tops $1Trillion in Trading Volume despite Using Only 3.9M Addresses

Decentralized exchange (DEX) has surpassed $1 trillion in total trading volume since being launched on Ethereum in late 2018.

Source: Twitter

1/ It’s been one hell of a ride 🚀

As of today, the Uniswap Protocol has passed a lifetime cumulative trading volume of $1 Trillion. pic.twitter.com/stFdMDgJPZ

— Uniswap Labs 🦄 (@Uniswap) May 24, 2022

UNIUSD down -2.50%, ETHUSD down -1.19%

Meanwhile, the surge comes from a relatively small user base, signaling there is a lot of potential growth to come. DEX’s number of cumulative addresses surged to nearly 3.9M this month after over three years.

The Uniswap Labs team stated that in the last three years, the Protocol has Onboarded millions of users to the world of decentralized finance (DeFi), launched fair and permissionless trading, and cut barriers to liquidity provision.

Uniswap is now supported on Ethereum and layer-2 scaling solutions Polygon, Optimism, and Arbitrum. Uniswap Labs indicated that the DEX will be expanding out to two Ethereum Virtual Machine (EVM)-compatible chains in Gnosis Chain.

Uniswap has generated nearly $5.93 billion of total value locked (TVL), the fifth-largest sum in the DeFi sector.