Uniswap Hits Record 28.9 Million Weekly Swaps Amid Market Volatility

Uniswap, the largest decentralized exchange (DEX) by trading volume, has reached a new milestone with 28.9 million swaps in one week. According to data from Unfolded, this is the highest weekly total in its history.

This surge in activity comes amid heightened volatility in the crypto market, with major assets like Bitcoin and Ethereum experiencing sharp price swings. Uniswap's role as a primary liquidity venue for thousands of tokens has made it a bellwether for decentralized finance (DeFi) activity.

Data from Dune Analytics shows that the increase was driven by trading in mid-cap and long-tail tokens, as well as stablecoin pairs. The number of unique active wallets also rose to a multi-month high, indicating broader participation rather than just a few large traders.