DEX protocol Uniswap hits $1 trillion cumulative trading volume milestone

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Since its first iteration went live in 2018, Uniswap has seen over $1 trillion in crypto be traded on the decentralized exchange (DEX) protocol.

The decentralized exchange hit this lifetime cumulative trading volume mark on Tuesday, according to an announcement on Twitter from Uniswap Labs.

Uniswap has dominated the decentralized exchange market since last year, in terms of trade volume, according to data compiled by The Block Research.

In April, for instance,  it had a 42.48% share of the market, followed by PancakeSwap (17.21%), SushiSwap (5.47%), Astroport (5.24%), Curve (4.06%) and all others (25.56% combined).

Uniswap’s daily trading volume has been on similar levels to that of centralized exchange Coinbase, yet significantly below Binance, as shown in the following graph.

Uniswap recently announced plans to expand further into the market by introducing computer code that can embed its capabilities into any website.