According to Dune Analytics data, Uniswap, the leading decentralized exchange on Ethereum, has set a record high in total transaction volume on Ethereum's major Layer2 networks this month, exceeding US$38 billion, which is US$4 billion higher than its previous monthly transaction volume record set in March this year.
Among them, Uniswap had the largest transaction volume on Arbitrum, reaching US$19.88 billion, followed by Base chain with US$13.43 billion, and Polygon ranked third with US$4.33 billion.
Uniswap transaction fees reached $4.36 million in the past 24 hours
According to DeFiLlama data, Uniswap transaction fees reached US$4.36 million in the past 24 hours, ranking fifth among all protocols.
Analyst: Ethereum ecosystem may see an explosion
In this regard, Henrik Andersson, Chief Investment Officer of Apollo Crypto, commented that Uniswap's transaction volume on the Ethereum Layer2 network reflects the revival of DeFi and the return of market demand. The Ethereum ecosystem may also usher in the explosion that the market expects:
This phenomenon is consistent with the recent resurgence of DeFi and the rise in the ETH/BTC exchange rate.
We can see that whenever Bitcoin approaches $100,000, Ethereum and DeFi tokens begin to rise. This growth may also mean that the Ethereum ecosystem may usher in the explosive stage that the market expects.
UNI surged 36% in the past week
At the time of writing, the Uniswap token UNI was trading at $12.54, having fallen back from yesterday’s (28) sharp rise, but the increase in the past week was still as high as 36%.
