Uniswap moved $81.334 billion in trading volume over the 30 days to September 20, 2026, against $3.686 billion in total value locked. That works out at roughly 22 times the resting liquidity turning over every month, the ratio that separates an automated market maker from a custodial venue. Uniswap statistics split by chain and by protocol version tell a different story from the headline totals.
The protocol’s shape has changed more in the last nine months than in the three years before it. Fees now route to a token burn, the fourth protocol version has taken the volume lead from the third, and the busiest venue is a Layer 2 that opened in July. The figures below are split the way the underlying data is maintained, by chain and by protocol version.
Key Takeaways
- Uniswap holds $3.686 billion in total value locked, of which Ethereum accounts for $2.378 billion.
- Robinhood Chain supplies $33.081 billion of the protocol’s $81.334 billion in 30-day volume, more than Ethereum’s $24.136 billion.
- Uniswap v4 has passed v3 on monthly flow, at $42.903 billion against $36.781 billion.
- The UNI buy-and-burn mechanism has returned $48.94 million since it switched on, with $15.81 million of that in the trailing 30 days.
- Ethereum carries $2.707 trillion of lifetime volume but contributed $21.56 million of the last 30 days of fees.
- Uniswap’s annualized earnings run at $63.93 million, against a UNI market capitalisation of $5.344 billion.
Editor’s Choice
- Lifetime volume: $3.893 trillion across all versions and chains.
- Lifetime fees: $5.955 billion paid by swappers since launch.
- 30-day fees: $194.51 million, of which Robinhood Chain supplied $133.86 million.
- Seven-day volume: $20.637 billion, with $2.202 billion in the most recent 24 hours.
- Stablecoin volume: $2.7 trillion processed since 2020, including roughly $2 trillion in USDC.
- UNI all-time high: $44.92, set on May 02, 2021.
Uniswap Trading Volume in 2026
- The trailing 30 days produced $81.334 billion in swap volume, the window most stats pages quote.
- The trailing seven days produced $20.637 billion, which annualises close to the monthly run rate rather than above it.
- The most recent 24-hour session recorded $2.202 billion.
- Lifetime volume stands at $3.893 trillion, a figure Uniswap Labs itself rounded to approximately $4 trillion in the UNIfication governance proposal.
- Uniswap Labs describes the protocol’s reach as thousands of developers, millions of liquidity providers, and hundreds of millions of swapping wallets.
- Volume, not liquidity, is the metric that moved this year, which is why a page that leads with TVL alone now describes the protocol badly.
| Window | DEX volume |
|---|---|
| 24 hours | $2.202 billion |
| 7 days | $20.637 billion |
| 30 days | $81.334 billion |
| Lifetime | $3.893 trillion |
Source: DefiLlama, September 2026
About This Data
Figures come from 14 primary sources captured on September 20, 2026. DefiLlama protocol and per-version pages supply volume, TVL, fees, and holders’ revenue; Uniswap Labs’ own blog and governance posts supply product and policy dates; CoinGecko supplies UNI market data. Only first-party protocol data and official publisher statements qualify. Readings are reviewed on a rolling basis and updated when the underlying sources publish new ones.
Uniswap Total Value Locked by Chain
- Ethereum holds $2.378 billion, or about 65% of the protocol total.
- Base is second at $433.51 million.
- Robinhood Chain already holds $275.12 million despite launching in July 2026.
- Arbitrum and BSC hold $193.59 million and $139.94 million, respectively.
- Unichain, Uniswap’s own Layer 2, holds $24.95 million, less than Monad’s $32.74 million.
- Liquidity is the slowest of these metrics to move, which is why the chain ranking here still reads like 2024 while the volume ranking two sections down does not.
Recent Developments
- September 16, 2026: Uniswap v2, v3, v4 and UniswapX went live on Arc, the Layer 1 Circle built for stablecoin settlement.
- September 10, 2026: Uniswap Labs shipped StablePair Hook, its first upgradeable dynamic-fee hook, which recomputes the swap fee on every trade.
- August 24, 2026: Permissioned Pools reached v4, letting tokenized funds enforce issuer rules on every swap while tapping AMM liquidity.
- August 5, 2026: Pools.trade launched as a token launchpad built for Robinhood Chain.
- July 2, 2026: Robinhood Chain went live with Uniswap as its primary public AMM.
- June 25, 2026: Spark migrated $150 million of stablecoin liquidity to Uniswap v4 ahead of moving it into the DualPool hook.
Where Uniswap Trading Volume Settles
- Robinhood Chain led the trailing 30 days with $33.081 billion.
- Ethereum followed at $24.136 billion, its first month as the protocol’s second venue rather than its first.
- Base and BSC contributed $7.61 billion and $5.881 billion.
- Arbitrum and Polygon added $4.878 billion and $2.772 billion.
- Arc, live for four days of the window, already recorded $314.95 million, just below Unichain’s $385.31 million.
- Robinhood Crypto built the chain, and Uniswap Labs describes the protocol as the primary public AMM on Robinhood Chain, with stock tokens supported from day one.
By the numbers: DefiLlama records $33.081 billion of Uniswap’s $81.334 billion in 30-day volume on Robinhood Chain, a network that opened to Uniswap on July 02, 2026. Ten weeks of trading put it ahead of Ethereum, which took six years to build the same monthly footprint.
Uniswap Protocol Fees by Chain
- Swappers paid $194.51 million in fees over the trailing 30 days.
- Robinhood Chain generated $133.86 million of that, or roughly 69% of the total.
- Ethereum produced $21.56 million and Base $19.8 million.
- BSC, Arbitrum and Arc added $9.68 million, $3.6 million and $2.25 million.
- Across the protocol’s life, swappers have paid $5.955 billion in fees, of which Ethereum accounts for $4.496 billion.
- DefiLlama puts annualized earnings at $63.93 million.
The split above is the sharpest divergence in the dataset. Ethereum owns the protocol’s history and still holds most of its liquidity, yet it now supplies about 11% of monthly fees. Newer venues carry the flow.
| Fee window | Amount |
|---|---|
| 7 days | $36.93 million |
| 30 days | $194.51 million |
| Lifetime | $5.955 billion |
Source: DefiLlama, September 2026
Fee Switch Rollout Timeline
- Ethereum activated first, on December 28, 2025, routing 17% of fees to buy back and burn UNI, where the prior share was 0%.
- March 8, 2026 extended the same 17% share to Optimism, Arbitrum, Base, Zora, and X Layer.
- June 2, 2026 added Polygon, BSC and Celo.
- July 27, 2026 added Robinhood, the venue that now supplies most of the fee base.
- Liquidity providers keep 83% of fees where the switch is on, against 100% before it.
- Sequencing matters here: the burn reached the protocol’s largest venue last, which is why the cumulative figure understates the current rate.
The UNI Fee Switch and Token Burn
- The buy-and-burn mechanism returned $15.81 million over the trailing 30 days.
- Cumulative holders’ revenue since activation stands at $48.94 million.
- Robinhood Chain contributed $9.09 million of the 30-day figure, against Ethereum’s $3.21 million and Base’s $2.3 million.
- Smaller chains contributed $653,316 from Arbitrum and $384,333 from BSC.
- The seven-day reading was $3.07 million.
- Uniswap Labs and the Uniswap Foundation proposed the change jointly, saying the proposal turns on protocol fees and aligns incentives across the Uniswap ecosystem, and the same proposal committed to burn 100 million UNI from the treasury as the approximate amount that would have been burned had fees been live from the start.
Close to a third of everything the burn has ever returned arrived in the last month. That is a function of coverage rather than of a sudden volume spike, since the mechanism only reached the protocol’s busiest chain in late July. Readers tracking comparable mechanics across venues will find the pattern echoed in the wider crypto exchange market share data, where fee capture has followed flow rather than brand.
Uniswap v2 vs v3 vs v4
- Uniswap v4 moved $42.903 billion over the trailing 30 days.
- Uniswap v3 moved $36.781 billion in the same window.
- Uniswap v2, live since 2020, still moved $1.648 billion.
- v4 also collected $131.49 million in 30-day fees, more than double v3’s $57.31 million.
- v2 collected $5.71 million across the same period.
- The crossover is the single most consequential fact on this page, and it is one that adoption metrics catch long before price charts do.
Why it matters: Uniswap v4’s $131.49 million in 30-day fees against v3’s $57.31 million means the newer version earns more than twice as much on roughly one-sixth more volume, per DefiLlama. Hook-based pools and the July fee-switch extension both land on v4, so the gap compounds.
Uniswap Statistics by Protocol Version
- v3 still holds the most liquidity at $1.61 billion in TVL.
- v4 holds $1.12 billion and v2 $952.31 million.
- Lifetime volume remains a v3 story at $2.826 trillion.
- v2 has moved $610.802 billion since launch, still ahead of v4’s $453.913 billion.
- v4’s lifetime total is concentrated on Ethereum at $230.427 billion, with Unichain second at $70.801 billion.
| Version | TVL | 30-day volume | 30-day fees | Lifetime volume |
|---|---|---|---|---|
| Uniswap v4 | $1.12 billion | $42.903 billion | $131.49 million | $453.913 billion |
| Uniswap v3 | $1.61 billion | $36.781 billion | $57.31 million | $2.826 trillion |
| Uniswap v2 | $952.31 million | $1.648 billion | $5.71 million | $610.802 billion |
Source: DefiLlama, September 2026
Read across the rows, and the migration is only half complete. Flow has moved to v4; stock and history have not. That gap is what makes the next two quarters of TVL readings the more informative series, and it is the kind of split that broader decentralized finance statistics tend to flatten into a single protocol line.
Uniswap Lifetime Volume by Chain
- Ethereum accounts for $2.707 trillion of the $3.893 trillion lifetime total.
- Arbitrum is second at $430.628 billion.
- Base has moved $232.418 billion and BSC $189.466 billion.
- Unichain has cleared $72.607 billion since launch.
- Robinhood Chain has already reached $55.117 billion in under three months.
How much of Uniswap’s volume is on Ethereum?
Ethereum carries $2.707 trillion of Uniswap’s $3.893 trillion lifetime volume, or about 70% of the total. Over the trailing 30 days, that share falls sharply, to $24.136 billion of $81.334 billion. The protocol’s history is an Ethereum history; its current month is not.
Uniswap Stablecoin Trading Volume
- Uniswap has processed $2.7 trillion in stablecoin volume since 2020.
- Roughly $2 trillion of that was USDC.
- The second quarter of 2026 alone settled $43 billion in stablecoin-to-stablecoin swaps on the protocol.
- Uniswap Labs states that volume was more than the next three on-chain venues combined.
- Arc, where the protocol deployed in September, takes its fees in stablecoins and counts BlackRock, DTCC, Mastercard and Visa among its founding validators.
Worth noting: Uniswap Labs reports $2.7 trillion in stablecoin volume since 2020, roughly $2 trillion of it in USDC. That concentration is why a stablecoin-native Layer 1 was worth a day-one deployment, and why the pair mix matters as much to fee revenue as the chain mix does.
Stablecoin pairs are also where self-custodial trading competes most directly with centralized venues, a dynamic visible in crypto exchange volume statistics.
UNI Token Market Data
- UNI carries a market capitalisation of $5.344 billion.
- Its market-cap-to-FDV ratio is 0.7.
- Its market-cap-to-TVL ratio is 1.45.
- The token’s all-time high is $44.92, set on May 02, 2021.
- The trailing seven-day range ran from $6.01 to $9.41.
| Metric | Value |
|---|---|
| Market capitalisation | $5.344 billion |
| Market cap / FDV | 0.7 |
| Market cap / TVL | 1.45 |
| 24-hour range | $8.46 to $9.13 |
| 7-day range | $6.01 to $9.41 |
| All-time high | $44.92 |
Source: CoinGecko, September 2026
The market-cap-to-TVL ratio is the one line here that ties the token to the protocol rather than to the market. Governance token pricing sits outside what protocol data can explain. The regulatory backdrop the UNIfication proposal described is tracked separately in the crypto regulation status by jurisdiction data.
What does Uniswap’s protocol data show about UNI’s role?
UNI’s role changed in function on December 28, 2025, when a 17% share of Ethereum fees began routing to buy back and burn UNI rather than staying entirely with liquidity providers. Since then, the mechanism has returned $48.94 million, and the UNIfication proposal also committed to burning 100 million UNI from the treasury. The observable data describes a token now tied to protocol usage. It says nothing about what the token will be worth, and CoinLaw does not forecast prices.
How much revenue does the Uniswap protocol generate?
Uniswap collected $194.51 million in swap fees over the trailing 30 days, of which $15.81 million reached UNI holders through the burn. The remainder went to liquidity providers, who keep 83% of fees on chains where the switch is active. DefiLlama’s annualized earnings figure for the protocol is $63.93 million.
Conclusion
Uniswap’s $81.334 billion in 30-day volume against $3.686 billion in resting liquidity is the same efficiency story the protocol has told since 2020, yet almost every component underneath it is new. Robinhood Chain out-traded Ethereum and v4 out-traded v3 inside a single quarter, while a fee switch that did not exist a year ago has returned $48.94 million to token holders, with the busiest venue wired in only since late July.
Adoption metrics moved ahead of the narrative here. Both the version crossover and the venue reshuffle showed up in flow data quarters before they will show up in liquidity or in commentary. Two readings are worth watching next: v4’s TVL, which still trails v3, and whether fee capture stays concentrated on the newest chains once the burn has run a full year everywhere. Wallet-level behaviour tracks the same shift, and the MetaMask user statistics give the front-end view of it.
