Uniswap's weekly trade volumes reach record high of $10B

Uniswap set a new weekly volume record on Tuesday, with cumulative transactions exceeding to $10 billion as the ongoing decentralized finance trend.

CEO Hayden Adams shared the news via twitter on Tuesday with the chart showing a 25.7% weekly increase in volumes. If Uniswap maintains its current pace, it will execute over $500 billion worth of transactions at the end of the year.

According to CoinGecko, Uniswap’s 24-hour trading volumes are expected to be around $1.9 billion. Alongside PancakeSwap and Mdex  both have reportedly processed more than $3 billion worth of transactions each over the same period.

Uniswap is a popular Defi platform for investors looking after new and emerging projects and other underrated crypto gems not yet available on the major centralized exchanges like Coinbase, Kraken not even Binance. An airdrop of 400 UNI tokens has aided the platform’s appeal over the past six months. Those 400 tokens are now worth approximately $12,000 if we look at UNI’s current price.

Currently, around $112 billion worth of value has been locked in DeFi projects. The total value locked peaked above $123 billion last week before a market dump wiped out over $300 billion in crypto value.