Uniswap Hits $1 Trillion in Trading Volume
Uniswap, one of the first decentralized exchanges (DEX), has reached $1 trillion in total trading volume. This milestone follows the launch of its v4 upgrade and the Unichain layer-2 solution in 2025.
Hayden Adams, CEO of Uniswap Labs, announced the achievement on X (formerly Twitter). He credited the improved regulatory environment for helping reach this record volume.
Regulatory Improvements Boost Uniswap
The better regulatory landscape refers to recent U.S. developments that reduced uncertainty for Uniswap and the crypto industry. In February 2025, the U.S. Securities and Exchange Commission (SEC) settled its probe with Uniswap Labs. The settlement clarified guidelines and avoided classifying UNI as an unregistered security.
Since its launch, 80% of Uniswap’s $1 trillion trading volume occurred after the 2021 DeFi boom. According to Dune Analytics, half of the volume happened in the past eight months. In May 2025 alone, Uniswap processed $52.5 billion in trades. The highest monthly volume was in November 2021, with over $85.5 billion in transactions.
So far, Uniswap has facilitated about 94 million trades involving 8.3 million unique blockchain addresses.
Uniswap’s Market Share and Token Performance
- DEXs traded $21 billion last week, with Uniswap holding 71% of the share.
- Uniswap’s average trade value rose from $200 in January 2019 to $24,000 in May 2022.
- DeFiLlama reports Uniswap’s total value locked (TVL) at $5.61 billion, mostly on Ethereum.
- This TVL is down 56% from November 2024’s peak of $10.46 billion.
- The UNI token has dropped 82% since its May 2021 peak of $44.97.
- At the time of writing, UNI trades at $8.14, according to CoinMarketCap.
