Uniswap processed over $70 billion in trading volume during the 30‑day period ending September 13, surpassing the combined volume of the next three largest decentralized exchanges according to DeFiLlama Research data cited by the protocol. The milestone reflects activity across Uniswap v2, v3 and v4 on all supported blockchains and does not represent revenue earned by Uniswap Labs or the market value of the $UNI governance token.
Uniswap has processed $70B+ in volume over the past monthMore than the next three DEXs combinedThe world’s value moves on 🦄 pic.twitter.com/ak426mmX1x
— Uniswap (@Uniswap) September 12, 2026
Uniswap v4 and v3 drive the bulk of volume
DeFiLlama’s Uniswap v4 page showed nearly $38 billion in trading volume over the preceding 30 days when accessed on September 13, while the analytics platform attributed roughly $32 billion to Uniswap v3 over a similar period. Uniswap v2 contributed more than $1.2 billion, pushing the combined three‑version total above the $70 billion figure cited by the protocol. Minor discrepancies between the version‑level sum and Uniswap’s published number can arise from smaller deployments or differences in data‑update timing.
Volume measures the dollar value of swaps executed by the protocol; it does not indicate trader profits, liquidity‑provider returns, or revenue flowing to $UNI holders. Each trade generates fees for liquidity providers, and selected pools direct a portion of those fees to the protocol under governance‑approved settings. Uniswap v3 remains active because it allows liquidity providers to concentrate capital within chosen price ranges, while version 4 employs a shared contract architecture with programmable hooks that let developers add customized pool functions. Recent growth has moved v4 ahead of v3 in the current monthly snapshot, though both versions continue to serve different pools, assets and integrations.
Volume spans dozens of blockchain networks
Uniswap’s aggregate volume covers deployments on Ethereum and numerous scaling networks. DeFiLlama lists v3 contracts on more than 40 chains, with Ethereum accounting for the largest share of the version’s locked liquidity. Activity from Base, Arbitrum, BNB Chain, Polygon, OP Mainnet and Robinhood Chain all contribute to the combined protocol figures. Each deployment processes swaps through its own pools, while analytics providers group the results under the Uniswap protocol.
Robinhood Chain emerges as a notable contributor
Robinhood Chain has recently become a significant source of Uniswap activity. As reported by crypto.news, the network reached approximately $945 million in daily DEX volume on August 25, with Uniswap serving as its primary public automated market maker. DeFiLlama’s September 13 snapshot showed Robinhood Chain processing roughly $1.35 billion in total DEX volume over 24 hours and $12.19 billion over seven days. Uniswap accounted for about $262 million of the chain’s daily volume and close to $4 billion of its seven‑day total at the time of measurement. Uniswap Labs launched v2, v3, v4 and UniswapX on Robinhood Chain in July, integrating the protocol into the Uniswap web app, wallet and API from the network’s first day of public operation.
On Ethereum, DeFiLlama recorded approximately $681 million in total DEX trading over the latest 24‑hour period and $8.5 billion over seven days. Uniswap competes there with Curve, PancakeSwap, SushiSwap and other automated exchanges.
Competitor comparison is a moving snapshot
Uniswap stated that its monthly volume exceeded the next three DEXs combined but did not name the three competitors in its announcement. Rankings can vary depending on whether an analytics provider groups protocol versions, counts only spot swaps, or combines activity across supported chains. DeFiLlama defines DEX volume as the value of spot token swaps processed by a protocol; perpetual futures trading is presented separately, preventing derivatives‑focused venues from being mixed with spot exchanges in the same metric.
Competition within the DEX sector has shifted over time. Raydium surpassed Uniswap in one monthly comparison during January 2025, while PancakeSwap held a higher 30‑day total during parts of that year. The latest data cited by Uniswap places the protocol back at the top of the selected spot‑DEX ranking. An earlier monthly record offers additional context: crypto.news reported in November 2024 that Uniswap reached $38 billion across Ethereum scaling networks. The current figure is more than 80 % above that total, though the two measurements cover different dates and may not include an identical set of chains and protocol versions. Uniswap’s competitor comparison should therefore be read as a trailing‑period snapshot verifiable only against the methodology, protocol groupings and timestamp used for the underlying ranking.
Protocol fees link volume to $UNI supply
Uniswap governance approved a fee mechanism that directs a portion of trading charges from selected pools to the protocol. The settings do not cover every pool or every dollar of reported volume, so monthly trading volume cannot be multiplied by a single fee rate to calculate protocol revenue. In July, Governance Proposal 100 expanded the mechanism to v4 pools across seven networks. Crypto.news reported that the change raised Uniswap’s measured daily protocol revenue from approximately $114,000 to $325,000 at the time.
Captured fees are routed through TokenJar contracts and can fund $UNI purchases and token burns under the governance system. Liquidity providers continue to receive the portion assigned to them under each pool’s settings. Uniswap Labs has continued expanding products connected to the protocol’s liquidity. A June agreement brought $150 million in Spark stablecoin liquidity to v4, with plans to move the assets into a programmable DualPool hook developed with Uniswap Labs. Spark’s design places idle stablecoins in yield‑bearing vaults between trades and moves the required capital into a v4 pool when a swap occurs. Uniswap said USDS would serve as the first quote asset, with support planned for USDT and PYUSD liquidity.
$UNI price action
$UNI traded near $6.21 during the latest market session, down roughly 2 % from the previous close. The token moved between approximately $6.17 and $6.55 during the day, with no verified evidence connecting the price decline to Uniswap’s monthly volume announcement.
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