Uniswap Breaks Record with $3 Trillion Trading Volume: What’s Next for DEX

Uniswap Shatters Records with $3 Trillion in Trading Volume, Cementing Its DEX Dominance Despite UNI Price Decline and Market Volatility.

Areeba Rashid
May 12, 2025
9:22 pm

Areeba Rashid

Areeba Rashid is a dedicated crypto news writer with a passion for making complex topics accessible to everyone. She covers the latest developments in the crypto world, including in-depth price analysis, helping readers stay informed and make sense of market trends.

Surpassing $3 trillion in trading volume, Uniswap sets a new benchmark in the decentralized exchange market.
Dominating the DEX market, Uniswap controls 23% of daily volume, with $3.3 billion in trades.
Despite impressive trading volume, UNI has dropped 84% from its all-time high, reflecting market instability.

Uniswap becomes the first platform to achieve the $3 trillion in trading volume on decentralized exchanges (DEX) making history. Uniswap’s founder, Hayden Adams, marked the milestone on May 12, sharing a Dune Analytics piece referring to the platform’s massive expansion. This milestone will only cement Uniswap’s dominant place in the DEX space with the market being led by volume.

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

Dune Analytics data shows that currently the Uniswap has the daily trading volume of $3.3 billion. This makes the platform squarely on top of decentralized exchanges. The daily volume in the DEX market is controlled by Uniswap by 23%, according to DeFillama. PancakeSwap comes next, with 21%, or $2.7 billion in daily volume.

Uniswap Declining TVL

Uniswap also has some Total Value Locked (TVL) of almost $5 billion. This is a major drop from its all-time TVL of more than $10 billion in 2021. This decline is part of the overall slow down in decentralized finance (De-Fi). That is the state of play at the time of writing, and we currently have DeFillama reporting $124 billion TVL for the DeFi market as a whole, whereas DappRadar puts the figure at $132 billion.

Uniswap’s UNI, has, however, fallen despite the surge in trading volume. UNI is down to trade at $7.02 from its all-time high of $45. This drop of 85% in the UNI value contrasts with the robust performance in volume of the platform. It is a reflection of the general problems in the cryptocurrency market where tokens tend to fluctuate greatly – even as platforms prosper.

Ethereum EIP-7702 Integration

Besides the volume and token problem, Uniswap is curious about innovation. The platform incorporates Ethereum’s EIP-7702, an update to protect Ethereum accounts from the quantum computing dangers. EIP-7702 allows for smoother one-click swaps. This functionality is enabled once the Ethereum has completed Pectra upgrade on May 7th and is accessible to users on the Uniswap and hence; makes the transactions safe and smooth.

The constant updates at Uniswap demonstrate that it aims to be in the fronts in the DeFi space. The combination of EIP-7702 and other improvements should probably add up to improve user experience. Despite the fluctuation in the price of UNI, the growth and leading role of Uniswap in the decentralized finance is evident. The virtual platform continues to transform its systems ensuring it further maintains its first position in the market.