Uniswap Surges Past $100M Monthly Fees After V4 Upgrade

Uniswap's recent upgrade to version 4 has boosted its revenue to nearly $100 million in monthly fees, solidifying its position as the largest decentralized exchange in crypto. According to DefiLlama, Uniswap generated $99.06 million in fees over the past 30 days, ranking it among the highest revenue-generating crypto projects.

This milestone also pushed Uniswap's lifetime protocol fees to a staggering $5.72 billion, reinforcing its long-standing position at the top of the DeFi sector. The upgrade introduced a new revenue model where a portion of protocol fees can now be directed toward buying and burning UNI tokens, reducing circulating supply over time while giving the token a more direct connection to the protocol's growing revenue.

The market reacted quickly to the fee switch, with UNI climbing nearly 19% in value between July 29 and July 31. The price of UNI moved from around $3.83 to $4.54 before settling near $4.09.