Uniswap sets a record for monthly trading volume on layer 2 as DeFi demand returns

Uniswap has set a record for monthly trading volume on Ethereum Layer-2 platforms, with a total volume reaching 38 billion USD, surpassing the previous record by more than 4 billion USD set in March. This increase in volume is believed to reflect high demand from the DeFi market, especially for assets and stablecoins, as the DeFi community returns to the ecosystem.

This aligns with the recent recovery trend in the DeFi sector, where daily trading volumes have reached around 5-15 billion USD, indicating a bustling return of the market. In November, Uniswap ranked sixth in the fee-based protocol leaderboard, generating more than 90 million USD just in the past month, which also reflects the strength and popularity of this platform in the current DeFi space.

This development can be seen as a positive sign for the prospects of Uniswap and the entire DeFi ecosystem in the coming months, especially as projects like Uniswap V4 promise to bring many improvements.