A Look at the Number One DEX Uniswap | Data on TVL, Volume, Users, Top Pairs and More | Apr 2026
From all the defi apps we have seen in the crypto market, Uniswap has kept its dominance and continued to develop and grow. It was the first defi app to bring in users thanks to its simplicity and incentives. Following the FTX collapse and the multiple other collapses centralized entities in 2022, its importance grew even more. In the last period Uniswap seems to be growing and spreading on other ETH L2 chains like Arbitrum, Base etc. It also facing a strong competition from other projects on Solana.
Let’s take a look how is the protocol performing under the current market conditions.
Here we will be looking at:
- Total value locked
- Trading volume
- Top exchanges
- Number of users
- Top Pairs
- Price
The period that we will be looking at is 2020 - 2026.
Total Value Locked
Here is the chart for the TVL on Uniswap starting from September 2020 according to DeFiLama.
Uniswap launched its token back in September 2020, and the liquidity grew fast then. A record high of 10B was reached in April 2021, and again in November 2021. Since then, it has been a downtrend and dropped to 3.5B at the end of 2023.
In 2024 the TVL grew at first reaching 6B in April, and since then it has been sideways in the range of 4B to 6B, up to recently when it dropped to around 3B where we are now.
Trading Volume
Trading volume is extremely important. That is where the fees come from and the APR for liquidity providers. No trading volume means no fees and no capital in the protocol.
The chart for the trading volume looks like this.
This is a chart for the daily trading volume. It’s quite volatile.
The daily trading volume has been more constant in the last year, similar to the TVL, with occasional spikes whenever there is some volatility in the market. At times there was more than 5B in daily volume, all legit and recorded on chain with fees paid.
We can notice the drop in the last months with the training volume hovering around 2B. Still it’s a big number.
Note that the data for the volume above is a summary of all the different chains where Uniswap operates. Uniswap is now multichain with BSC, Base, Arbitrum, Unichain etc. integrated.
The monthly trading volume looks like this:
A clearer picture here than the daily volume.
An increase in the trading volume in 2021, a drop in 2022, and a growth since then up to recently in October 2025 when it reached more than 100B in trading volume in one month.
A drop since then and in the last few months the trading volume is around 60B per month.
When we break down the trading volume per chain we get this:
We can notice the fragmentation since 2024. More and more chains came online ad they sort of took over a share from Ethereum. In the last period, chains with high volume except Ethereum have been BSC, Arbitrum and Base.
DEX VS CEX Volume
If we take a look at the data for the trading volume on the other exchanges provided by some of the aggregators like Coingecko the numbers looks like this.
Uniswap ranks in the top 10, or on the fourth spot now, that is quite good ranking. At times it has been even on the second spot just after Binance.
Monthly Active Users
How many users does Uniswap have? Here is the chart.
This is a chart on a monthly basis.
We can see a massive growth in 2024 monthly due to the expansion on other chains. The record high numbers of MAUs was reached in June 2025 with 22M users. Quite the number. Since then a sharp drop in the MAUs to around 3M in the last months.
Top Trading Pairs on Uniswap
Here is the chart for the top trading pairs ranked by liquidity.
The WISE/ETH pool is on the top spot with 130M on the V2 on Ethereum.
The ETH-USDC pair is on the second spot with close to 130M. In the past the stablecoin to stablecoin pairs were on the top in liquidity like USDC-USDT but obviously these have now moved elsewhere. WBTC in the top as well with two pairs against USDT and ETH. Note that the liquidity of the pairs is combined from different chain and pools.
Price
The chart for the UNI price looks like this.
The UNI token has been on a wild ride, reaching $40 at some point in 2021. Since then, it has dropped and has been hovering around the $5 mark for a long time.
In the last few months it has even dropped lower than that and it is now around
first half of 2024 it has increased again to 15 USD at one point and dropped to back to 5$. In the last months it has increased again and now it is close to 10 USD.
