Leading decentralized cryptocurrency exchange Uniswap saw its trading volume on Coinbase’s Layer-2 network Base set a new record above the $15 billion mark this month, with its monthly volume nearing the $16 billion mark nearing the end of the year.
According to data taken from Dune analytics and shared by Uniswap Labs on the microblogging platform X, so far in December the decentralized exchange has seen $15.65 billion in trading volume on Base, surpassing its previous record of $15.51 billion set last month. That record saw Uniswap’s trading volume hit $38 billion on Ethereum Layer-2s.
The decentralized exchange was launched on Coinbase’s Ethereum Layer-2 network Base back in August 2023 and initially saw muted trading volumes, with data showing an explosion occurred in March of this year, when the price of Bitcoin (BTC) rose to $70,000.
Uniswap’s trading volume on Base then trended down, before it started surging in the final quarter of the year to now hit its new record.
Monthly Base volume on the Uniswap Protocol just set a new all-time high at $15.65B
Based beyond belief
pic.twitter.com/2mB7McXzay — Uniswap Labs
(@Uniswap) December 26, 2024
The cryptocurrency exchange is currently available on 27 different networks, but the lion’s shares of its nearly $6 billion in total value locked (TVL) is on Ethereum, where it has a $4.6 billion in total value locked. It has $488 million in TVL on Base, and $343 million on Arbitrum.
The only other network in which Uniswap has over $100 million in TVL is Polygon, according to DeFiLlama data.
According to data from Artemis, so far in December the leading decentralized exchange has generated $115.8 million in trading fees, below the $119.8 million it generated last month, despite having a lower trading volume.
The data further reveals that the network’s fees – across the various networks it’s currently available on – hit a $144.7 million all-time high back in March of this year. Nevertheless, the number of daily active addresses on it is now at a new 655,000 high.
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