Uniswap's total historical transaction volume reaches US$2 trillion

Decentralized exchange Uniswap has seen its trading volume exceed $2 trillion since its launch five and a half years ago.

According to data from Dune Analytics, Uniswap’s trading volume crossed a significant level on April 5.

Before setting the new record, the Uniswap team released a message stating that $2 trillion in trading volume would be reached within 24 hours.

Uniswap Labs said it will transfer 200 USD tokens (USDC) to the first person to record and send the company a video clip that updated the Dune Analytics dashboard to show that Uniswap’s transaction volume has exceeded 200 million Dollar.

DefiLlama data shows that Uniswap ranks first among all decentralized exchanges (DEX) in terms of trading volume, with a market share of 31.5%. Uniswap’s closest competitor, PancakeSwap, has a market share of 14.6%, less than half of Uniswap’s.

Uniswap’s native token UNI reacted to this new achievement by falling. Over the past 24 hours, the coin has lost 4.5% to $10.73. The cryptocurrency’s total market capitalization also fell by the same amount, falling to $6.4 billion, according to CoinMarketCap.

Uniswap announced a new incentive strategy for UNI token holders in February 2022. The company plans to distribute tokens generated by protocol transactions to UNI token holders who actively participate in the protocol management process. The Uniswap Foundation will continue to control key parameters related to tokens.

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