Uniswap’s Wallet Count Doubles Over the Past Year

The total number of wallets on the decentralized exchange (DEX) Uniswap has surged from 3.03 million in May 2023 to 7.26 million in May 2024, marking an approximate 140% increase, according to data from Dune Analytics, with UNI token up by 3.53%.

This growth in the number of Uniswap exchange wallets aligns with other records on the platform. On April 5th, Uniswap’s cumulative trading volume broke through a historic $2 trillion. With a total value locked (TVL) of $5.31 billion, the DEX is also the largest, with PancakeSwap coming in second, close to $2 billion.

Uniswap’s native token UNI traded at $7.09 at 1:21 PM Eastern Time on May 2nd. According to the token’s block price page, UNI has risen by 5.10% in the past 24 hours, an increase of $0.34.

The protocol’s success over the past year has also come under some scrutiny. As previously reported by The Block, the U.S. Securities and Exchange Commission appears to be planning a lawsuit against Uniswap, which seems to be a regulatory strike against decentralized finance (DeFi).

Sentiment: Positive