Decentralized exchange (DEX) Uniswap has reached a major milestone, surpassing $2 trillion in total trading volume since its launch in November 2018.
According to data from Dune Analytics, Uniswap hit the $2 trillion mark on April 5, 2022 at around 11:55 am UTC. For perspective, Uniswap’s trading volume is now larger than the GDP of countries like Australia, Brazil, and South Korea.
Launched less than five years ago, it took Uniswap 42 months to reach its first trillion dollars in trading volume in May 2022. Impressively, it has doubled that figure to $2 trillion in just 24 months, demonstrating the protocol’s continued growth despite rising competition in the DEX space.
Uniswap remains the largest DEX by far, accounting for $21.6 billion in trading over the last week alone. PancakeSwap is second with $9.6 billion in volume during that time period.
The milestone is a testament to Uniswap’s success in establishing itself as the dominant force in decentralized token swaps, facilitating trades across multiple blockchains including Ethereum, Polygon, Optimism and more. It will be interesting to see if Uniswap can continue its explosive growth trajectory in the years ahead.