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The news was shared by Uniswap founder Hayden Adams on X (formerly Twitter) on May 12, along with a screenshot from Dune Analytics showing the countdown to the record.
Currently, Uniswap registers around $3.3 billion in daily trading volume, according to Dune. Data from DeFiLlama indicates that Uniswap dominates with a 23% share of daily DEX trading volume, totaling nearly $3 billion in the past 24 hours — far ahead of its competitors. The second-largest DEX by volume is PancakeSwap, with $2.7 billion in daily trades and a 21% market share.
As for total value locked (TVL), Uniswap currently holds just under $5 billion — only about half of its all-time high in 2021. This mirrors the broader DeFi market, where current TVL ranges between $124 and $132 billion, significantly down from its late-2021 peak. More than half of that TVL remains on Ethereum.
UNI Token Price Lags Behind Platform Performance
Despite the platform’s impressive growth, Uniswap’s native token, UNI, has not followed suit. At the time of writing, UNI is trading around $7 — down over 84% from its all-time high of nearly $45 in May 2021, according to CoinGecko. On May 12 alone, UNI lost another 3.4%.
Uniswap Smart Wallet Set to Launch with EIP-7702 Support
In addition to the trading volume milestone, Hayden Adams also announced that Uniswap is preparing to launch its own smart wallet compatible with the new EIP-7702 standard, while also supporting other 7702-enabled wallets. The goal is to offer seamless, one-click swaps for all users.
EIP-7702, led by Ethereum co-founder Vitalik Buterin, went live with the Pectra upgrade on May 7. The upgrade allows externally owned accounts to temporarily function as smart contracts during transactions and improves security against future quantum computing threats.
Trust Wallet has already rolled out smart account support, and Uniswap is expected to follow soon with its own smart wallet — promising to elevate the DeFi user experience even further.
