DeFi Trading Protocol Uniswap Hits $1 Trillion in Trading Volume

Decentralized exchange (DEX) Uniswap has topped $1 trillion in lifetime total trading volume in less than four years since it was launched. According to data from CoinGecko, Uniswap ranked first among decentralized exchanges (DEXs) by volume with $1 billion in trading over the past 24 hours. The $1 trillion milestone was reached in less than a year as the DeFi protocol went processing around $250 billion in cumulative trading volume to $750 trillion in March 2022. Additional data suggests that Uniswap’s market share exceeded 50% in August 2020 and has exceeded 60% ever since. The metric has been on the rise despite the current downtrend across the crypto markets. The DEX has also seen a $500 billion increase in trading volume since the fourth quarter of 2021, according to data from Uniswap. Moreover, recently, the number of Uniswap users has reached about 4 million. In January 2021, the number of users of this indicator was less than 1 million which signifies that this is equivalent to a four-fold increase in just over a year. 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 Uniswap Also Amassed Over $5B in TVL Locked Uniswap has also amassed roughly $5.93 billion worth of total value locked (TVL), the fifth-largest DeFi) sector according to DeFi Llama, while PancakeSwap ranks...