Ethereum

Uniswap

DeFi

Base

Uniswap recorded an unprecedented $38 billion in monthly volume across <a href="https://yellow.com/asset/eth">Ethereum</a> layer-2 networks, underscoring a resurgence in decentralized finance (DeFi) interest. This record marks a $4 billion increase over its previous peak set in March, driven by demand for assets and stablecoins within the DeFi ecosystem. 
According to Dune Analytics, Uniswap's significant volume for November <a href="https://cointelegraph.com/news/uniswap-notches-record-monthly-trading-volume-across-ethereum-l2s-defi-demand">spanned</a> major Ethereum layer-2 networks, including Base, Arbitrum, Polygon, and Optimism. Henrik Andersson of Apollo Crypto pointed out that this surge aligns with the DeFi revival and increased Ethereum/Bitcoin values, adding that it might signify a prolonged Ethereum outperformance. 
Arbitrum led this surge with $19.5 billion in volume, closely followed by the Base network with $13 billion. These figures showcase the growing adoption of Ethereum layer-2 solutions. At the same time, Uniswap's influence is evident as it ranks sixth by protocol fees, amassing over $90 million in the past month and outpacing competitors like Solana's Pump.fun and networks such as Tron and Maker. 
The rise in Uniswap's activity is mirrored in the price of its <a href="https://yellow.com/asset/uni">UNI token</a>, climbing over 42% in the past week to $12.58, marking a 10% increase in just 24 hours. UNI has outperformed other decentralized exchange tokens, exceeding the performance of Solana-based Raydium, which saw a decline, and Jupiter, which posted modest gains. 
These developments highlight Uniswap's pivotal role within DeFi and the broader crypto market, marking a period of significant transformation and growth. For more insights, subscribe to our Crypto Biz newsletter, which provides a weekly overview of key trends in blockchain and crypto markets, offering valuable insights every Thursday.

Uniswap Layer 2 Trading Volume Hits All-Time High Amid DeFi Revival

Yellow News

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