Uniswap DEX accounts for 37% of Ethereum volume L2.

The Ethereum leading decentralized exchange Uniswap contributes significantly more volume to layer 2-blockchains compared to activity two years ago.

Decentralized Exchange (DEX), which runs on Ethereum, the second largest blockchain in cryptography, accounts for 37% of all trading volumes.ETH). 

Tom Wan, a researcher at 21.co, noted that L2 volumes on the platform have grown by more than 650% in just 24 months. They went from $4 billion to $30 billion last year. Analysts said that the trend would continue to grow if new protocols like Arbitrum’s Base and Optimism were launched on Layer 2 networks.

“L2s have been gaining more economic activities, specifically Base and Arbitrum, which account for 82% of the total L2 volume on Uniswap. I would expect the dominance of L2s’ volume on Uniswap will continue to grow to 50% by the end of this year.”

Tom Wan, 21.co researcher

Wan said that data showed the DEX only contributing 2.9% to the volume of altcoins L1s. However, he believes that narrative could change in the near future. Wan explained how high-performance, EVM compatible L1s coupled with a strategy of multichain expansion could help the DEX capture more volume in networks like Sei Monad. 

Crackdown on Uniswap

UniswapUNI() is the world’s first DEX for Ethereum. It remains the biggest on-chain trading platform on the crypto L1 Blockchain. The protocol boasts over $2 trillion in cumulative trading volume in 17 chains. DefiLlama reports that users have also deposited over $5.5 billion total in value-locked. 

Hayden Adams started the Brooklyn-based cryptocurrency service provider in 2017, but now the U.S. SEC could take enforcement action. The SEC has been involved in a wide crypto crackdown. 

According to Crypto.news, the SEC has been reported. served Adams’s company is the subject of a Wells Notification, and DEX will defend itself. “disappointing but not surprising” decision.