Is the figure of $1 billion a day in volume the „new normal“ of Uniswap?

Uniswap could soon be averaging $1 billion in daily trading volume; most of the trade is between Ethereum and stablecoins.

The large, decentralized exchange platform (or DEX) Uniswap continues to lead the industry, as it approaches an average of $1 billion a day in trading volume for the month of January.

Only two-thirds of the month has passed and the platform has already Bitcoin Evolution platform surpassed the previous record for monthly trading volume of $15.3 billion set in September during the DeFi boom. The DEX topped $17 billion as of this morning and is on track to exceed $25 billion by the end of January with a daily average of $855 million.

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Uniswap traders have many options with 1,558 currencies traded in over 2,400 pairs; however, most tend to favour less risky trades. Trading between stablecoins, such as USDC, Tether and DAI, versus ETH, made up 45% of the $1.1 billion traded in the last 24 hours.

On December 15, Uniswap founder Hayden Adams tweeted that the platform had surpassed $50 billion in all-time trading volume and asked the community when it would reach $1 billion. Approximately 50% of respondents said this would happen in 2021.

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Currently, with a trading volume of $70 billion, the DEX would need to average approximately $2.7 billion each day to reach $1 trillion by the end of the year.

Uniswap’s strategy leader, Matteo Leibowitz, is already stating that the $1 billion trading volume is here to stay:

„The $1 billion a day volume is the new ’normal‘.
Adams compared this to the New York Stock Exchange, saying that „2% of [the NYSE] is the new normal for Uniswap. When will 100% be?

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DEX in general have had a strong growth trajectory in the last 30 days: they have increased by 112%. The total volume traded in the last 30 days is $43.3 billion, with approximately $1.5 billion added each day.

SushiSwap is the next strongest DEX, with $8.2 billion traded in January to date, which is double its previous monthly high of $3 billion, set in December last year.