Uniswap DEX Ready to Explode – Over $2T Volume on Ethereum

• Uniswap ($UNI) recently passed the $2T threshold in total transactions, most recorded between 2020 and 2024.
• $UNI is currently $7.71, a 79.59% increase in the last year and a 15% in the last month.
• As thelargest DEX, Uniswap is uniquely positioned for further growth. NewsBTC also shows a recent history of higher highs and higher lows.

Uniswap has processed over $2T in transactions since launching in late 2018.

This comes toaround $333B per year. However, Uniswap only passed the $1B mark in May 2020, two years after launching.

Starting in August 2020, the platform saw a steady but sharp increase in trading volume, passing the $60B threshold by the end of 2020.

Meanwhile, $UNI sits at $7.71, a 79.59% increase in the last year.

Let's see how Uniswap has been doing these past years and why it might continue its parabolic run.

What Is Uniswap's Secret Sauce?

There is no secret sauce, I'm afraid.

Uniswap wasn't the first DEX, but it was the first to rival the large centralized exchanges. The crypto community was in dire need of a decentralized medium of exchange.

And Uniswap was a solid choice for multiple reasons.

All Uniswap transactions happen on MetaMask, a non-custodial wallet, which gives traders complete control of their assets.

The exchange simply offers good value for a significant number of traders. DefiLlama shows Uniswap's Total Value Locked (TVL) is $4.955B at the moment.

This makes Uniswap the sixth largest DeFi protocol after Maker, ether.fi, EigenLayer, Aave, and Lido.

It's definitely the largest DEX, with a $635M 24-hour volume and a 10.7% market share. The only ones coming close are Raydium ($582M volume), Orca ($579M volume), and Aerodrome SlipStream ($541M volume).

Uniswap users have access to multiple chains for swaps, including BNB Chain, Avalanche, and Ethereum. The latter is dominant, managing over $3.9B of the total $4.955B.

How Is This Impacting Uniswap's Token, $UNI?

$UNI has been climbing for the past year, from$4.21 in October 2023 to $7.71 today. That's a 79.59% increase, and 15% is just in the past month.

According to NewsBTC, $UNI is recording higher highs and higher lows, and it's close to a key resistance level of $8.44.

NewsBTC

Breaking above $8.40-$8.50 might lead to a bigger explosion, which, according to NewsBTC, might push the token to $12.

That wouldn't be unexpected nor impossible, considering its performance so far and the recent achievements of its parent chain.

Uniswap was awarded a $850K grant to OpenZeppelin to develop a v4 hooks library, which should increase security and reduce coding risks.Summary - Uniswap Is Uniquely Positioned for a Pump

The data is pretty clear.Uniswap's constant growth indicates a solid foundation, community trust, and healthy development.

As the largest DEX in the industry, Uniswap will likely keep pushing forward, and $UNI should follow suit.

References

• Uniswap Performance on DefiLlama (DefiLlama)
• Top Decentralized Exchanges Ranked by 24H Trading Volume (CoinGecko)
• Uniswap Processes Over $2 Trillion On Ethereum: UNI Bull Run Inevitable? (NewsBTC)
• Uniswap Awards $850K Grant to OpenZeppelin for v4 Hooks Library Development (Crypto News Land)

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