Uniswap DEX breaks all-time high with $3 trillion in trading volume and 7702 wallets staking
- Uniswap Hits $3 Trillion in All-Time Volume
- UNI rises 38% in the week as the market rises
- Uniswap Wallet 7702 to Support Smart Accounts
The Uniswap protocol has reached a significant milestone by surpassing $3 trillion in all-time trading volume, cementing its position as the first decentralized exchange (DEX) to do so. The feat was highlighted by Uniswap founder Hayden Adams in a recent post, accompanied by an image of the Dune Analytics dashboard that tracks these on-chain records.
Despite this feat, the latest data from DeFillama indicates a slight drop in Uniswap’s daily volume, which is around US$3 billion — still maintaining a solid lead with a 23% share among DEXs. PancakeSwap comes in second, with US$2,7 billion traded daily and a 21% share of the market.
While transaction volume remains high, Uniswap’s total value locked (TVL) remains below $5 billion, reflecting a broader decline across the DeFi sector since its 2021 peak, when total TVL exceeded $250 billion.
Uniswap's native token, UNI, fell 3,4% on the day of the announcement, trading at around $7. However, the asset has seen a cumulative increase of 6% in the last 24 hours and a significant increase of 38,6% in the last week, raising its market value to $4,42 billion, with a daily trading volume of $485 million.
Alongside the milestone, Uniswap revealed that it is developing its own 7702 wallet, which supports EIP-5792. The new feature allows externally owned accounts to temporarily act as smart contracts, increasing usability and security in the face of challenges such as quantum computing.
The EIP-7702 proposal, introduced with Ethereum’s Pectra upgrade, is also adopted by wallets such as Ambire and Trust Wallet, enabling smart account functionality without the need to create new addresses. These solutions enable bundled transactions and fee payments in alternative tokens to Ether, such as stablecoins.
Trust Wallet confirmed that the update will allow stablecoin gas payments and support for sponsored transactions, where third parties cover the fees. Uniswap plans to follow suit, making decentralized exchanges more accessible to the average user without requiring new sign-ups or seed phrases.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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