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Uniswap leads the DEX market with US$71.1 billion in monthly transaction volume, surpassing competit

2026-09-14 16:42:09
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Uniswap leads the decentralized exchange market with monthly trading volume of US$71.1 billion.

As the leading decentralized exchange (DEX), Uniswap has achieved US$71.1 billion in trading volume in the past 30 days, consolidating its position as the most active DEX tracked by DeFiLlama. The agreement said its 30-day trading volume exceeded the combined value of its next three largest competitors.

Trading activity and network distribution

Uniswap's activity far exceeds the second-largest DEX PancakeSwap. During the same 30-day period, PancakeSwap's trading volume was US$29.8 billion, a gap of more than US$41 billion.

The latest weekly data shows that Uniswap processed more than US$21.3 billion in transactions, with an average daily transaction volume of approximately US$2 billion. Uniswap operates on an extensive blockchain network with a total of more than 40, of which Ethereum accounts for the highest share of total lock-in value (TVL). Other well-known blockchain networks that support Uniswap's multi-chain layout include Base, Arbitrum, BNB Chain, Polygon and Robinhood Chain.

In terms of version contributions, Uniswap V4 accounted for approximately US$38 billion in monthly transaction volume, V3 contributed approximately US$32 billion, and V2 increased by US$1.2 billion.

Platform 30-day trading volume Proportion of each version Uniswap US$71.1 billion V4: 38 billion, V3: 32 billion, V2: 1.2 billion PancakeSwap US$29.8 billion N/A

Robinhood Chain, integrated with Uniswap, had decentralized exchange transaction volume reaching US$1.35 billion on September 13, of which Uniswap contributed US$262 million.

Small Dictionary: Robinhood Chain is a blockchain launched by trading platform Robinhood to provide decentralized infrastructure to promote on-chain transactions and DeFi activities. Since launching earlier this year, it has entered into partnerships with multiple DEXs to expand its ecosystem.

UNI Price Trend and Market Analysis

On September 13, UNI price was approximately US$6.21, down 2% from the previous trading day. Intraday price fluctuations range from $6.17 to $6.55.

Market analyst Yasuhiro pointed out that UNI has had a technical breakthrough, and noting prices have broken through the long-term downtrend line and remained above the upward support level. He pointed to a potential accumulation range of $4.40 to $4.80, and if the uptrend remains intact, potential upside targets could reach $10.80 and $15.70.

Yasuhiro emphasized that UNI has broken through the long-term downtrend line and continues to remain above the support level of recovery from lows. He prefers to wait for a pullback rather than buy around $6 and sees the $4.40 - 4.80 range as a favorable accumulation area under a persistently higher low structure.

Agreed revenue and supply mechanism

According to analyst firm Token Terminal, Uniswap generated $28.2 million in agreement revenue between January and July 2026. The revenue came from user transaction fees totaling $297.9 million, with June being the most profitable month with revenue of $5.3 million. As of early August, total revenue since activation fees had climbed to $29.8 million.

Governance Proposal 100 will extend the protocol's fee structure to seven V4 liquidity pools on blockchains starting in July. After this expansion, daily agreement revenue surged from approximately $114,000 to $325,000. All fees charged are stored in TokenJar smart contracts. UNI holders can destroy their tokens through the Firepit mechanism to unlock the corresponding share of agreement fees, thereby establishing a link between trading activity and reduced token supply. In addition, a separate treasury destruction involving 100 million UNIs was carried out.

Currently, there are approximately 623 million UNI tokens in circulation in Uniswap, giving the token a market value of US$3.85 billion. Although destruction continues through Firepit and Treasury initiatives, only a small portion of the total supply has been removed so far.

In summary, Uniswap collected $28.2 million in agreement fees in the first seven months of 2026 and expanded the fee mechanism to more networks, bringing expected daily benefits to more than $300,000.

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