Uniswap Dominates Ethereum Layer 2 with 650% Surge in Trading Volume

Uniswap Layer 2 trading volume skyrockets to $30 billion, claiming 37% of Ethereum L2 market share, amidst regulatory pressures from the SEC.

Uniswap trading volume on Layer 2 (L2) solutions experiences exponential growth, soaring from $4 billion to $30 billion over two years. This surge positions Uniswap as the leading decentralized exchange (DEX) on Ethereum L2, capturing 37% of total L2 trading volume.

According to Tom Wan, a researcher at 21.co, Uniswap L2 volume growth is driven by the rise of quality protocols like Arbitrum and Coinbase Base. These Layer 2 networks contribute 82% of Uniswap L2 volume, with projections of reaching 50% dominance by year-end.

Despite accounting for only 2.9% of total volume on altcoin Layer 1s, Uniswap expansion strategy aims to capture more volume across networks like Sei and Monad, leveraging high-performance Ethereum Virtual Machine (EVM)-compatible layer 1s.

While maintaining its position as Ethereum largest on-chain DEX, Uniswap faces regulatory scrutiny from the SEC. A Wells Notice indicates potential enforcement action, prompting Uniswap to defend itself against regulatory pressure amidst ongoing industry criticism of the SEC approach.

Despite regulatory challenges, UNI trades at $7.68, reflecting marginal gains in the last 24 hours amid broader market fluctuations.

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