Uniswap has hit a new milestone, recording $38 billion in monthly volume across Ethereum layer-2 networks like Arbitrum, Base, Polygon, and Optimism. This surpasses its previous record by $4 billion, set in March. Henrik Andersson from Apollo Crypto attributes this surge to rising demand for assets and stablecoins in the DeFi space, alongside increasing on-chain yields. Arbitrum led with $19.5 billion, followed by Base at $13 billion. Uniswap's native token, UNI, has soared over 42% in the past week, reflecting this heightened activity and outperforming other decentralized exchange tokens.