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Trading volume on the decentralized exchange Uniswap has exceeded $2 trillion five and a half years after its launch.
According to data from Dune Analytics, trading volume on Uniswap crossed an essential level on April 5.
Ahead of the expectation of a new record, the Uniswap team published a message that $2 trillion would be reached within 24 hours. Uniswap Labs also said it would transfer 200 USD Coin ($USDC) to the first person to record and send to the firm a video clip updating the Dune Analytics dashboard showing Uniswap trading volume has surpassed $2 trillion.
Expecting Uniswap Protocol to hit $2T in all-time volume in the next 24 hours 👀
— Uniswap Labs 🦄 (@Uniswap) April 4, 2024
So we're doing a thing
The first person to refresh our countdown Dune query to show 2T all-time volume gets 200 $USDC
How to participate 👇
According to DefiLlama data, Uniswap ranks first among all decentralized exchanges (DEX) regarding trading volume, with a 31.5% denomination. Uniswap’s closest competitor, PancakeSwap, has a market share of half that at 14.6%.
Uniswap’s native token, $UNI, reacted to the new achievement with a decline. Over the past 24 hours, the coin has fallen by 4.5% to $10.73. The cryptocurrency’s market capitalization fell by the same amount to $6.4 billion, according to CoinMarketCap.
In February, the Uniswap Foundation announced a new incentive strategy for $UNI token holders. The company plans to distribute commissions from protocol transactions among $UNI token holders actively participating in the protocol management process. The Uniswap Foundation will continue to control critical parameters related to commissions.
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