Uniswap has a trade volume of over $2T, which is larger than Australia’s GDP
Decentralized exchange (DEX) Uniswap has surpassed $2 trillion in all-time trading volume, a milestone five and a half years after its launch in November 2018.
Uniswap hit the $2 trillion milestone around 11:55 am UTC, according to data tracked by Dune Analytics dashboard compiled by Zack Wong, Uniswap's head of strategy and operations.
Uniswap Labs announced the upcoming milestone to the community at 6:00 pm UTC on April 4th, when it is expected to reach $2 trillion within 24 hours.
For perspective, Uniswap's $2 trillion trade volume is larger than the combined gross domestic products of Australia, Brazil and South Korea — a measure of the market value of finished goods and services produced throughout the country.
For a bit of fun, Uniswap Labs also filmed a video clip showing Uniswap's trading volume approaching $2 trillion, a Dune Analytics dashboard, and said it would transfer $200 in USD Coin (USDC) to anyone who joins the company for the first time.
The transaction volume figures are taken from several blockchains that support Uniswap, including Ethereum, Polygon, Optimism, Arbitrum, Celo, BNB Chain, Base, Blast and Avalanche Network.
Related: Uniswap (UNI) price gains 50% after fee-sharing management proposal
Launched in November 2018, Uniswap took 42 months to breach the $1 trillion milestone by May 2022.
Despite intense competition in the DX space, it took less than 24 months to surpass the second trillion. DEXs are primarily used to facilitate the exchange of tokens without intermediaries through smart contracts.
Cointelegraph reached out to Uniswap Labs but did not receive an immediate response.
Uniswap raised $21.6 billion last week alone and remains the largest DEX ever by trading volume, according to Frederick Haga, founder of the Dune Analytics Dashboard platform.
Pancake Swap – a fork of Uniswap – was second at $9.6 billion, while Curve, Balance and Trader Joe's rounded out the top five with between $1.8 billion and $800 million.
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