Total number of Uniswap wallets more than doubles in the past year

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The Block2024/05/02 18:04

By:The Block

Quick Take The total number of wallets on the decentralized exchange rose 140%, from 3.03 million in May 2023 to 7.26 million in May 2024. The doubling comes as Uniswap surpassed a historic $2 trillion in cumulative trading volume in early April.

Total number of Uniswap wallets more than doubles in the past year image 0

The total number of wallets on the decentralized exchange (DEX) Uniswap UNI +2.00% skyrocketed from 3.03 million in May 2023 to 7.26 million in May 2024—an increase of approximately 140%, according to Dune Analytics data.

Uniswap's rise in swappers coincides with other records on the platform. On Apr. 5, Uniswap surpassed a historic $2 trillion in cumulative trading volume. The DEX is also the largest by total value locked at $5.31 billion, with PancakeSwap coming second at nearly $2 billion.

Uniswap's native token, UNI, traded hands at $7.09 at 1:21 p.m. ET on May 2. UNI saw a 5.10% increase of $0.34 in the past 24 hours, according to The Block Price page for the token .

The past year's success for the protocol has also come with some scrutiny. The U.S. Securities and Exchange Commission intends to sue Uniswap in what appears to be a regulatory crackdown against decentralized finance (DeFi), The Block previously reported.

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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