- UNISWAP V4 exceeds $1 billion on TVL, with most activities centering around Unichain and Ethereum Networks.
- Over 2,500 hooks have launched liquidity pools, driving growth and innovation in the UNISWAP V4 ecosystem.
Uniswap V4 has achieved a major milestone, officially surpassing its $1 billion total value lock (TVL). Moreover, according to Dune, its cumulative trading volume is over $110 billion. However, these numbers aren’t the only ones that are attracting attention. It is the way that networks like Unicane are at the heart of their efforts to drive away Ethereum, which was now once considered the king of the sector.
Source: Dune
Currently, V4’s daily activities and much of TVL are concentrated in two networks: Unichain and Ethereum. However, in a thorough examination, Unicane steals the show.
While it accounts for more than 75% of UNISWAP V4’s daily trading volume, Ethereum only accounts for around 15% to 20%. This shows that users are beginning to look for new platforms and offer lower fees and faster performance.
Furthermore, the hook function of UNISWAP V4 is contributing to this growth. Over 2,500 pools have been created using hooks, with two consistently exciting players being Bunni and Eulerswap. Each of them has achieved cumulative trading volumes of over $1 billion. This means that the community is not only experimenting with this new feature, but is actually using it for real activities.
New features in UNISWAP are driving the growth of large users
Speaking of the pace of adoption, CNF previously pointed out that Uniswap’s layer 2 swap volume had reached $180 billion by mid-June. This is one of the driving forces of 2023.
UNISWAP officially launched its smart wallet in the same month, utilizing the EIP-7702 and EIP-5792 standards. With one click, users can exchange tokens and execute bundle transactions without dealing with multi-tier processes. Despite some behind the scenes internal tensions within DAO, Uniswap is completely committed to development.
Meanwhile, Uni Token has also improved performance. Recently, UNI successfully destroyed major EMA territory. This is a classic signal associated with a potential gathering. Analysts have suggested a potential price surge that would approach $73, or even $118, if momentum remains in place until 2025.
It is worth noting that Uni was trading at the time of writing. $10.59a 53.28% It will increase over the last 30 days. The market capitalization is over $6.5 billion.
But that doesn’t mean that it’s all going to be easy. Unichain’s advantages are promising in terms of volume, but how this ecosystem can maintain user sustainability and security is the next challenge. Similarly, Ethereum is currently behind, but still has a strong reputation and mature infrastructure.
