2024-05-04
The decentralized exchange (DEX) Uniswap experienced a remarkable surge in the number of wallets, soaring from 3.03 million in May 2023 to 7.26 million in May 2024.
This represents an astounding increase of approximately 140%, based on data from Dune Analytics.
The rise in the number of users on Uniswap coincides with several other impressive milestones achieved by the platform.
On April 5th, Uniswap surpassed a historic milestone, reaching a cumulative trading volume of over $2 trillion.
Additionally, Uniswap currently holds the position of the largest DEX in terms of total value locked, with a staggering $5.31 billion.
The second-largest DEX, PancakeSwap, trails behind with nearly $2 billion locked.
The native token of Uniswap, UNI, was traded at $7.09 at 1:21 p.m. ET on May 2nd.
Over the past 24 hours, UNI experienced a 5.10% increase of $0.34, according to The Block Price page for the token.
Despite the exceptional success of the protocol in the past year, Uniswap has also faced scrutiny.
The U.S. Securities and Exchange Commission (SEC) has made clear its intention to pursue legal action against Uniswap as part of a regulatory crackdown on decentralized finance (DeFi), as previously reported by The Block.
