\n<\/p>\n
The Uniswap protocol has surpassed a lifetime cumulative trading volume of $1 trillion, despite its struggling token price.<\/span><\/p>\n Today, the Uniswap community celebrated an impressive milestone as the protocol passed a lifetime cumulative trading volume of $1 trillion.<\/span><\/p>\n Deployed on the Ethereum mainnet in November 2018, Uniswap was among the earliest decentralized exchanges ever launched. Its mission was to provide a non-custodial platform upon which to swap, trade, and earn on the blockchain. Three and a half years later, the protocol has seen more than a trillion dollars of volume pass through it.\u00a0<\/span><\/p>\n Uniswap currently boasts a daily volume of $1.4 billion\u2014three times as much as that of its closest competitor, Pancakeswap ($500 million), and nineteen times more than that of the second biggest decentralized exchange on Ethereum, Sushiswap ($71 million). It reached an all-time high daily volume of $8.8 billion on Nov. 10, 2021.<\/span><\/p>\n It also sports more than $5.9 billion in total value locked (TVL) across Ethereum, Polygon, Optimism, and Arbitrum, while Sushiswap and Balancer currently each have $2.1 billion, Bancor $631 million, and 1inch $10 million. The only protocols to have more value locked are lending protocols such as MakerDAO ($9.7 billion), Curve ($9.1 billion) and Aave ($8.6 billion).<\/span><\/p>\n Uniswap\u2019s all-time high TVL was $10.5 billion on Dec. 1, 2021. It hovered in a range between $6 billion and $8 billion in TVL until the market downturn provoked by the Terra meltdown on May 7.<\/span><\/p>\n Despite these impressive metrics, the market capitalization of the protocol has been in a steady downtrend for more than a year. Uniswap\u2019s fully diluted market cap all-time high was $33.3 billion in early May 2021, with its UNI token reaching $42.33. Today, its fully diluted market cap is at $5.3 billion, and its token price at $5.49.<\/span><\/p>\n This is not unique to Uniswap. As <\/span>Crypto Briefing<\/span> has <\/span>reported<\/span>, the entire DeFi sector has been trading in a bear market since early May 2021 despite retaining or improving fundamentals. Even top protocols have lost over 80% in their value. UNI is currently down 87% from its all-time high.<\/span><\/p>\n However, the market downtrend has left the Uniswap community undeterred. On May 23, it <\/span>voted<\/span> almost unanimously to launch the protocol on two other blockchains, Gnosis Chain and Moonbeam Network.<\/span><\/p>\n Disclosure: At the time of writing, the author of this piece owned ETH and other cryptocurrencies.<\/span><\/p>\n The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.<\/p>\n You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.<\/p>\n See full terms and conditions.<\/p>\n<\/div>\n<\/div>\nTrillion-Dollar Milestone<\/span><\/h2>\n
Share this article<\/h4>\n
![\"Uniswap](\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/05\/23161518\/unicorn-300x158.png\")
\n<\/div>\n<\/div>\n![\"Uniswap](\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2021\/12\/22160418\/univote-300x158.png\")
\n<\/div>\n<\/div>\n![\"Uniswap](\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2022\/04\/29164939\/celo-300x158.png\")
\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n