Uniswap Protocol, the first decentralized exchange, has reached $3 trillion in trading volume and announced the launch of the 7702 wallet.
Uniswap Reaches $3 Trillion in Trading Volume
Uniswap Protocol has become the first decentralized exchange to surpass $3 trillion in all-time trading volume. Founder Hayden Adams confirmed this milestone in a post on May 12, showing a screenshot from the Dune Analytics dashboard. According to the analytics platform, Uniswap's daily trading volume is $3.3 billion.
7702 Wallet and Its Features
On May 12, Hayden Adams announced the rollout of its own 7702 wallet and support for other 7702 wallets. The goal of the new wallet is to provide a simple swapping process for all users. EIP-7702, led by Vitalik Buterin, was activated with the Pectra upgrade on May 7, allowing existing accounts to utilize abstraction features.
DEX Market and Current Trends
Currently, PancakeSwap ranks as the second-largest DEX by volume, with $2.7 billion and a 21% market share. Additionally, the total value locked (TVL) for Uniswap is currently under $5 billion. According to DeFillama, the overall TVL in DeFi has halved over the past two years.
Uniswap's trading milestone and the announcement of the new wallet highlight the ongoing growth in decentralized finance and an increasing interest in improving user experience.
