Uniswap breaks new record-high with $38b monthly volume

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Uniswap’s monthly volume surged up to $38 billion across a number of Ethereum layer-2 platforms, surpassing its previous highest volume in March.

For the first time in crypto history, Uniswap has reached a monthly volume of $38 billion in November 2024, according to data from Dune analytics. This month’s volume breaks the previous record of $34 billion in March 2024.

The decentralized exchange accumulated $38 billion in volume across major Ethereum(ETH) layer-2 platforms like Base, Arbitrum, Polygon. Compared to the previous month, Uniswap’s monthly volume soared by nearly 50% from $20.32 billion in October 2024.

Ethereum layer-2 scaling solution Arbitrum contributed the largest portion of Uniswap’s volume this month, with $19.5 billion. Meanwhile, Base came in second with a volume of $9.19 billion, followed by Polygon with $4.33 billion.

Additionally, Uniswap also stands in sixth place among protocols ranked by fees and revenue, based on data from DeFi Llama. Uniswap falls slightly behind Solana , but manages to get ahead of major protocols like Tron, Maker and even the meme coin marketplace pump.fun.

Not only that, Uniswap’s native token UNI has also seen a significant rise in the past 24-hours of trading. Based on data from crypto.news, UNI has gone up by nearly 10% in the past day. The token is currently trading at $12.84.

In the past week, UNI has been riding a wave of 44.87%, following the ongoing crypto rally. It has maintained a market cap of $7.7 billion, ranking the unicorn token at 26th place. UNI has a fully diluted valuation of $12.9 billion and a circulating supply of 600 million tokens.

Similarly, Solana’s November monthly decentralized exchange trading volume also broke its record-high by reaching $109.73 billion. Solana’s monthly DEX volume leapt more than 50% compared to last month’s $52.49 billion monthly volume.

Solana and Uniswap’s new record-breaking milestones could signify a larger resurgence of interest in decentralized finance.