20 July 2026
Uniswap’s Weekly Trading Volume Hits $10B for the First Time
Uniswap has been performing phenomenally well in the past few months, despite the high transaction fees on the Ethereum blockchain. The decentralized exchange has recorded over $10 billion in weekly transaction volume for the first time, Uniswap Analytics.
Uniswap allows users to exchange tokens without providing custody of their coins to a third party. They’re the primary way to the world of decentralized finance (DeFi), enabling people to earn interest and avail loans in cryptocurrencies without going through financial institutions.
Uniswap is a decentralized exchange built on the Ethereum blockchain. Users can also trade ERC20 tokens—a type of cryptocurrency that uses the Ethereum blockchain’s infrastructure. They also include stablecoins such as Tether and USDC and tokens for DeFi protocols like Aave and Celsius and UNI tokens.
Uniswap faces pressure for users from SushiSwap, 1inch, and other Ethereum-based DEXs. But it also faces competition from non-Ethereum DEXs like Binance Smart Chain’s PancakeSwap as traders try to avoid Ethereum’s high fees, which average worth $20, according to BitInfo. Whereas, the relatively uncongested Binance Smart Chain charges in pennies while being compatible with Ethereum applications ( PancakeSwap has a fixed rate of 0.2%).
That’s a too big difference to ignore for financially conscious traders. Due to this, PancakeSwap rallied over $4 billion in volume in the last 24 hours compared to Uniswap’s $1.8 billion, CoinGecko reports.
So, while Uniswap can indeed celebrate reaching this milestone, but there's more work left to be done on the network. Uniswap V3 is expected to go live on May 5 with improvements to liquidity and trading efficiency. Once Optimism, a solution to scale Ethereum goes live, Uniswap V3 will launch there as well.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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