Uniswap has surpassed $1 trillion in trading volume

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Uniswap has surpassed $1 trillion in accumulated trading volume. Three and a half years after its launch, Uniswap is still one of the most popular protocols in DeFi. The incredible volume and total value locked in didn't keep the token price from going down.

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The Uniswap protocol has exceeded $1 trillion in total transaction volume over its lifetime, despite its cost.

The trillion-dollar chapter

The Uniswap community celebrated an impressive milestone as the protocol surpassed $1 trillion in lifetime aggregate transaction volume.

In the year Deployed on the Ethereum mainnet in November 2018, Uniswap is one of the most decentralized exchanges ever launched. Its mission was to provide a non-custodial platform to exchange, trade and monetize on blockchain. After three and a half years, the protocol has been seen to exceed a volume of more than one trillion dollars.

Uniswap currently has a daily volume of $1.4 billion—three times more than its nearest competitor Pancakeswap ($500 million) and nineteen times more than the second largest decentralized exchange on Ethereum, Sushiswap ($71 million). On November 10, 2021, the all-time high volume reached $8.8 billion.

With Ethereum, Polygon, Optimum and Arbitrum sporting more than $5.9 billion in total value locked (TVL), SushiSwap and Balance currently have $2.1 billion each, Bancor $631 million and 1inch $10 million. The only protocols with more value locked in are credit protocols such as MakerDAO ($9.7 billion), Curve ($9.1 billion) and Ave ($8.6 billion).

Uniswap's all-time high TVL on December 1, 2021 was $10.5 billion. TVL hovered in the $6 billion to $8 billion range until the market crash triggered by the Terra meltdown on May 7.

Despite these impressive parameters, the market capitalization of the protocol has been steadily decreasing for more than a year. Uniswap's fully leveraged market capitalization reached an all-time high of $33.3 billion in early May 2021, when a UNI token reached $42.33. Today, the fully diluted market cap is $5.3 billion and the token price is $5.49.

This is not just for Uniswap. as a Brief description of Crypto it has reportedDespite holding or improving fundamentals, the entire DFI sector has been trading in a bear market since early May 2021. Even top protocols have lost more than 80% of their value. UNI is currently down 87 percent from its all-time high.

However, the downward trend of the market has left the Uniswap community disappointed. On the 23rd of May They voted To launch the protocol in unison with two other blockchains, Gnosis Chain and Moonbeam Network.

Disclosure: At the time of writing, the author of this article owns ETH and other cryptocurrencies.

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