The decentralized exchange (DEX) Uniswap has reached a historic achievement, surpassing $2 trillion in all-time trading volume.
This was accomplished on April 5 at approximately 11:55 AM UTC, coming less than six years after Uniswap's launch in November 2018.
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It took three and a half years for UniSwap to surpass its first trillion in trading volume. However, the pace significantly increased, with the second trillion achieved in less than two years.
Uniswap's total trading volume now outpaces the gross domestic product (GDP) of economic powerhouses such as Brazil, Australia, and South Korea. This comparison demonstrates the large scale of transactions the DEX processes, underlining its major role in global finance.
Adding to the celebration, Uniswap Labs has also announced a unique initiative promising $200 in USD Coin (USDC) to the first individual who could capture and share a video showing the trading volume crossing the $2 trillion line, which engaged the community in a memorable way.
Its dominance in the DEX market further emphasizes the exchange's success. It is leading the sector with $21.5 billion in trading volume over the last week alone, with its closest competitor, PancakeSwap, recording not even half of that, $9.1 billion.
As Uniswap continues to set benchmarks in the DeFi industry, its trajectory offers valuable insights into the potential for decentralized exchanges to reshape financial markets.
In other DEX-related news, Ellipsis Labs, developer of Solana-based decentralized exchange Phoenix, has raised $20 million in Series A funding, with Paradigm leading the investment effort.
