Uniswap v4 Surpasses $1 Billion in Total Value Locked
Uniswap v4 has achieved a major milestone, officially surpassing $1 billion in Total Value Locked (TVL). Furthermore, according to Dune, its cumulative trading volume has surpassed $110 billion. But what’s drawing attention isn’t just these figures; it’s how networks like Unichain are now the center of activity, displacing Ethereum, once considered the king of the sector.
Source: Dune
Currently, the majority of daily activity and TVL in v4 are concentrated on two networks: Unichain and Ethereum. However, upon closer inspection, Unichain is stealing the show.
It accounts for over 75% of Uniswap v4’s daily trading volume, while Ethereum only accounts for around 15% to 20%. This signals that users are starting to seek new platforms, offering lower fees and faster performance.
Furthermore, the Hooks feature in Uniswap v4 is contributing to this growth. Over 2,500 pools have been created using Hooks, and two consistently exciting players are Bunni and EulerSwap. Each of them has achieved a cumulative trading volume of over $1 billion. This means the community isn’t just experimenting with this new feature, but is actually utilizing it for real-world activities.
Uniswap’s New Features Are Driving Massive User Growth
Speaking of the pace of adoption, the CNF previously noted that by mid-June, Uniswap’s Layer-2 swap volume had reached $180 billion—surpassing the total volume for all of 2023. One of the driving forces behind this is the gas-free limit orders and smart wallet features, which make the transaction experience more convenient, especially for new users who often dislike the hassle.
Uniswap also officially launched Smart Wallets that same month, utilizing the EIP-7702 and EIP-5792 standards. With just one click, users can swap tokens or perform bundled transactions without having to deal with multi-layered processes. Despite some behind-the-scenes internal tensions within their DAO, Uniswap remains fully committed to feature development.
On the other hand, the UNI token’s performance has also been boosted. In recent days, UNI has successfully broken through the key EMA area—a classic signal often associated with a potential rally. An analyst even suggests a potential price surge approaching $73, or even $118 if momentum is maintained through 2025.
It’s worth noting that at the time of writing, UNI was trading at about $10.59, a 53.28% increase in the last 30 days. Its market cap has also surpassed the $6.5 billion mark.
But that doesn’t mean it’s going to be all easy going. Unichain’s dominance is promising in terms of volume, but how this ecosystem maintains user sustainability and security will be the next challenge. Similarly, Ethereum, while currently lagging behind, still has a strong reputation and a mature infrastructure.