Uniswap captures 47.2% of stablecoin DEX volume

Uniswap has demonstrated significant dominance in the decentralized exchange (DEX) market, capturing approximately 47.2% of all stablecoin DEX trading volume over a 30-day period. This represents roughly $76.2 billion of the $161.4 billion total volume recorded across 35 different venues. The protocol's activity was primarily driven by the Uniswap v3 and v4 versions.

Within the stablecoin sector, USDC emerged as the leading asset, accounting for 52.1% of the total asset volume. While PancakeSwap was identified as the second-largest venue, its market share remained substantially lower than Uniswap's.

Specifically, Uniswap v4 has seen rapid adoption, processing more than $44 billion in trading volume over the last 30 days. This version accounts for nearly half of the total activity across the entire Uniswap protocol. The v4 architecture utilizes a customizable system of hooks, allowing developers to modify liquidity pool behaviors and implement new trading strategies.