Uniswap has set a new record for monthly trading volume on Ethereum's layer 2 scaling solutions as the decentralized finance (DeFi) community rushes back to this ecosystem.

According to data from Dune Analytics, Uniswap has reached a record trading volume of $38 billion on Ethereum's leading layer-2 networks, including Base, Arbitrum, Polygon, Optimism, and several others.

The new record for November surpassed the previous high set in March, with a gap of $4 billion.

Uniswap saw record monthly trading volume in November across all of Ethereum L2 | Source: Dune Analytics

Henrik Andersson, Investment Director at Apollo Crypto, shared that the increase in Uniswap's trading volume on Ethereum's layer 2 can be explained by the growing demand for assets and stablecoins in the broader DeFi ecosystem.

"This reflects the resurgence of DeFi and the recent increase of ETH/BTC. On-chain yields are also rising," Andersson remarked.

He also added that this growth phase could be the beginning of a long-awaited period of outstanding performance in the Ethereum ecosystem.

"Every time Bitcoin approaches the $100,000 mark, we see Ethereum and DeFi coins begin to grow strongly."

In the past month, Uniswap has seen the largest trading volume on Arbitrum with $19.5 billion, while the Base network developed by Coinbase ranks second with $13 billion.

At the time of publication, Uniswap ranked sixth among protocols with the highest fee revenue, earning over $90 million in the past month, surpassing other protocols such as the memecoin launchpad on Solana, Pump.fun, and major networks like Tron and Maker.

The price of Uniswap's UNI token has also reflected the increased activity of this protocol, rising over 42% in the past week. At the time of publication, UNI was trading at $12.8, up more than 10% in the past 24 hours.

Overall, UNI has become the best-performing decentralized exchange token, surpassing the growth of Raydium on Solana, down 2.2% in the past week, as well as Jupiter, up 7.7% in the same timeframe.


Source: https://tapchibitcoin.io/uniswap-dat-ky-luc-khoi-luong-giao-dich-hang-thang-tren-layer-2.html