The crypto market saw significant improvements this year despite ongoing volatility. Uniswap continued to maintain its dominance over the decentralized market, remaining one of the largest decentralized exchanges with over $4 billion in total value locked (TVL) across all blockchains.
In April, Uniswap achieved another milestone, officially surpassing $1.5 trillion in trading volume, according to Uniswap Labs. The platform’s trading volume has been increasing, with an influx of investors turning to decentralized exchanges due to the regulatory clampdown in the US and a banking crisis causing the USDC stablecoin to de-peg.
Uniswap has witnessed spikes in trading volume during times of turmoil, including a brief period where it flipped its centralized counterpart, Coinbase. However, it remains to be seen if the popular DEX can retain its lead for a long time.
Recently, Uniswap experienced a surge in transaction count, with daily active users reaching nearly 85,000, marking a notable high since May 2021. This surge came just a week after Uniswap launched a mobile wallet application, designed to promote broader DeFi wallet adoption and support on-the-go trading.
The new offering allows users to purchase crypto with a 2.55% fiat on-ramp fee and swap funds on popular DeFi platforms like Polygon, Arbitrum, and Optimism.