Uniswap Outpaces Raydium in Trading Volume—DeFi’s Old Guard Flexes Muscle

In a market where ’decentralized’ often means ’fragmented,’ Uniswap just schooled Solana’s Raydium on liquidity depth. The Ethereum-based DEX surged past its rival in 24-hour trading volume—proof that even in crypto, legacy (if you can call four years ’legacy’) still carries weight.

Behind the numbers: While Raydium’s TVL stays competitive, Uniswap’s deeper liquidity pools and cross-chain ambitions (thanks, Arbitrum and Optimism) are pulling traders like whales to a meme coin presale. The kicker? Both platforms are still just skimming 2% of CEX volumes—so much for ’disrupting finance.’

Uniswap grows its influence on multiple chains

Uniswap, on its side, grew its influence on alternative chains, including BNB Smart Chain and its native Unichain. The multi-chain strategy led more users to the exchange, turning it into one of the busiest smart contracts on multiple networks. 

The Uniswap V3 protocol carries over $830M in daily volumes, surpassing even centralized exchanges. The DEX also expanded its available liquidity from a low of $3.4B, rising to over $4.9B in May. 

Unichain is also helping the adoption, adding to over 26 chains with Uniswap versions. The native DEX chain saw $743.2M inflows in the past three months, retaining a total value locked of $673.9M.

The native UNI token trades near the highest level for the past three months, rising to $6.27. The token rallied from its recent local lows of $4.80, while trading with the highest volumes in the past three months. The recent rising demand for Ethereum trading may boost Uniswap, leading UNI to another breakout closer to the $10 range.

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