Uniswap extends DEX lead as volume passes $70 billion

Uniswap has processed more than $70 billion in trading volume over the past month, exceeding the combined volume attributed to the next three decentralized exchanges in its cited ranking. Summary Uniswap processed more than $70B in decentralized exchange volume during the latest monthly period measured. The protocol said its volume exceeded the combined total of the next three DEXs ranked. DeFiLlama data attributes roughly $32B to Uniswap v3 and nearly $38B to v4 activity recently. Uniswap operates across multiple blockchains, allowing traders to swap assets through automated liquidity pools directly. UNI traded near $6.21 after falling roughly 2% during the latest market session tracked globally. Uniswap said on Sept. 13 that the comparison came from DeFiLlama Research, describing the result as evidence that a large portion of decentralized spot trading continues to pass through its protocol. The claim covers activity across multiple versions of Uniswap and the blockchains where its smart contracts operate. It does not represent revenue earned by Uniswap Labs or the market value of the UNI governance token. Current DeFiLlama data supports a monthly total above $70 billion when the tracked volumes for Uniswap v2, v3 and v4 are combined. Since the figures update continuously, exact totals can change as older trading days leave the 30-day measurement period and new activity enters it. Uniswap has processed $70B+ in volume over the past month More than the next three DEXs combined The world's value moves on 🦄 pic.twitter.com/ak426mmX1x — Uniswap (@Uniswap) September 12, 2026 You might also like: Uniswap targets arbitrage value with new v4 hook Uniswap v4 and v3 account for most of the volume DeFiLlama’s Uniswap v4 page showed close to $38 billion in trading volume over the preceding 30 days when accessed on Sept. 13. The analytics platform attributed roughly $32 billion to Uniswap v3 during a similar period. Uniswap v2 contributed more than $1.2 billion, placing the combined figure for the three versions above the $70 billion level cited by the protocol. Smaller deployments or differences in update timing can produce slight variations between the version-level sum and Uniswap’s published figure. Volume represents the dollar value of swaps processed by the protocol. It does not show how much profit traders made, how much liquidity providers retained or how much revenue reached UNI holders. Each trade can generate fees for liquidity providers, while selected pools direct part of their fees to the protocol under governance-approved settings. Uniswap v3 remains active because it lets liquidity providers concentrate capital within chosen price ranges. Version 4 uses a shared contract architecture and programmable hooks, which developers can use to add customized pool functions. Recent v4 growth has moved the newer version ahead of v3 in the current monthly snapshot.