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Uniswap (UNI) dominates the decentralized exchange market with US$71 billion in monthly trading volu

2026-09-14 15:11:44
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Core Highlights

  • Multi-chain distribution drives transaction volume growth
  • Agreement revenue and supply reduction strategy
  • Uniswap's monthly trading activity reaches US$71.1 billion, surpassing the sum of its three major direct competitors.
  • v4 version dominates the market, with monthly transaction volume of approximately US$38 billion. v3 contributed approximately US$32 billion.
  • The platform charged US$28.2 million in agreement fees from January to July 2026.
  • UNI prices hover around US$6.21, falling by approximately 2% during the recent trading period.
  • UNI tokens continue to be destroyed through the supply reduction mechanism conducted by Firepit and TokenJar. However, compared with the 623 million tokens in circulation, the impact is still limited.

Uniswap's trading volume exceeded US$70 billion last month.

The decentralized exchange Uniswap has achieved US$71.1 billion in trading volume in the past 30 days, establishing its leading position among all decentralized platforms monitored by DeFiLlama. According to the agreement's announcement, this figure exceeds the combined trading volume of the three leading DEXs that follow closely.

Last week alone, the platform facilitated transactions worth more than $21.3 billion. On an average day, Uniswap handles approximately $2 billion in trading activity.

The largest competitor, PancakeSwap, recorded $29.8 billion in the same 30-day window. This resulted in a significant gap of more than $41 billion between the two platforms.

Uniswap Version 4 (v4) represents an approximately US$38 billion share of total monthly activity. The third version (v3) added approximately $32 billion to the total, while the second version (v2) contributed an additional $1.2 billion.

Multi-chain distribution drives transaction volume growth

The Uniswap protocol runs on more than 40 different blockchain networks. While Ethereum maintains the highest total lock-in value (TVL) concentration, networks such as Base, Arbitrum, BNB Chain, Polygon and Robinhood Chain also play an important role in generating overall transaction volume.

On September 13, Robinhood Chain recorded approximately US$1.35 billion in aggregate DEX transaction volume in 24 hours. Among them, Uniswap is responsible for approximately US$262 million of the daily total.

Market Analysis: UNI Price Trend

Market analyst Yasuhiro observed that $UNI currently breaks through the long-term downtrend line visible on the daily chart and remains above rising support. His analysis identified an optimal accumulation range between $4.40 and $4.80 and predicted potential target prices of $10.80 and $15.70 if the established higher-low pattern is maintained.

Agreement revenue and supply reduction strategy

According to Token Terminal's analysis, the platform accumulated US$28.2 million in agreement revenue from a total transaction fee of US$297.9 million between January and July 2026. The highest monthly income came in June, reaching $5.3 million.

As of early August, cumulative total revenue climbed to $29.8 million after fee activation. Through Governance Proposal 100, the fee structure was expanded to the v4 liquidity pool across seven blockchain networks in July, expected to increase daily agreement revenue from approximately $114,000 to $325,000.

The fees charged are deposited into the TokenJar smart contract. Holders can eliminate UNI to earn these fees through the Firepit mechanism, creating a direct link between platform usage and shrinking token supply. In addition, the destruction of 100 million UNI treasury coins also contributed to the reduction of overall supply.

The current circulation supply is approximately 623 million UNI tokens, supporting a market value of approximately US$3.85 billion. Active destruction rates still account for a small proportion of total available supply.

Uniswap (UNI) Price Dynamics

On September 13, the trading price of UNI was close to US$6.21, down about 2% from the closing price of the previous trading day, and intraday prices fluctuated between US$6.17 and US$6.55.

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