CandleFocus

Uniswap L2 activity in September tripled compared to last year

Author: Content Editor
Uniswap, a popular decentralized exchange (DEX), has seen significant growth on Layer 2 (L2) chains over the past year. In September, Uniswap V3 recorded triple the trading volumes compared to the same month last year, totaling $11.68 billion in swaps. Uniswap has expanded its presence to 23 chains, with Base and Arbitrum being the dominant ones due to low fees and active marketing. Uniswap's success has been driven by its leadership in meme token swaps and has resulted in $43.28 million in monthly fees. Uniswap has also expanded on the Celo protocol and has experienced more than 20 times growth on L2 since 2021. However, Uniswap still relies on Ethereum, which carries 37.7% of all DEX volumes. Uniswap faces competition from other DEXs such as Aerodrome and CurveDEX, but still holds a leading market share of 45%. As Uniswap prepares to launch V4 pools, the UNI token is in consolidation but is expected to reach $20 during a bull market.

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