All Eyes on US Regulation as Uniswap Eclipses $1.5T Trading Volume

Industry participants are eyeing the outlook for DEX products in Washington


Vector-3D/Shutterstock modified by Blockworks


With decentralized crypto exchange Uniswap leapfrogging the $1.5 trillion mark in terms of trading volume, digital asset industry participants are once again getting bullish on Web3 liquidity solutions. 

The sentiment shift of crypto traders increasingly tapping Uniswap, the world’s largest decentralized exchange (DEX), may have spillover effects to competing crypto-native products. 

The $1.5 trillion volume milestone for Uniswap (UNI) reflects a $500 billion cumulative volume increase for the DEX since April 2022 — when it passed $1 trillion in total trading volume since launch. 

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Uniswap Labs did not make a representative available for comment. Early this month, Apple approved the developer’s iOS mobile app, an initiative that had been long in the making. 

Uniswap eclipsing $1.5 trillion total trading volume comes at a time when crypto native and Wall Street traders of digital asset products alike are paying close attention to the regulatory landscape in the US and beyond. And it hits when a number of crypto-native DEX competitors are seeing opportunities to compete in a crowded sector by offering innovative incentives to traders, according to a recent Blockworks Research report.  

Read more: What the SEC’s Proposed ‘Exchange’ Definition Could Mean for DeFi

Markus Levin, the co-founder of XYO, told Blockworks in an exclusive statement that Uniswap’s rise is indicative of trader appetite for top DeFi products remaining strong, adding that DeFi is “truly unstoppable” at this point in the market cycle. 

The $1.5 trillion volume mark, Levin said, demonstrates the desire for decentralized trading setups that “[cut] out the middleman and excessive fees, creating billions of dollars in advantage for investors and users — billions not sucked up by some obscure fee-charging scheme.”

DeFi adherents may take issue with centralized crypto exchange counterparties — the likes of Coinbase and Kraken — as well as Wall Street trading solutions for digital asset products, which they say impose prohibitive fees on their provisions for Web3 liquidity. 

Levin’s XYO oversees the XYO protocol and related projects within its ecosystem. He positioned the Uniswap’s volume bump as yet another indicator that it is “high time” that lawmakers in Washington, DC, pass DeFi legislation that “protect innovation within our countries alongside its investors.”

Added Levin: “The SEC is attempting to enforce against DeFi without creating new laws.”

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