Uniswap Surges Past $100M Monthly Fees as V4 Upgrade Boosts Protocol Revenue

Uniswap continues to dominate the decentralized exchange market after generating $99.06 million in fees over the past 30 days, according to DefiLlama data.

This brings its lifetime protocol fees to a staggering $5.72 billion, solidifying its position as one of the highest revenue-generating crypto projects.

The recent surge is attributed to the Uniswap V4 upgrade's fee switch, which allows a portion of protocol fees to be directed toward buying and burning UNI tokens, reducing circulating supply over time and connecting the token more directly to the protocol's growing revenue.

Market reaction was swift, with UNI prices climbing nearly 19% between July 29 and July 31, from around $3.83 to $4.54 before settling near $4.09.