Uniswap Dominates Decentralized Exchange Sector with 65% Market Share

# Uniswap Reclaims Top Spot in the DEX Market, Surpassing Solana-Based Raydium Uniswap has regained its lead in the decentralized exchange (DEX) market, surpassing Solana (SOL)-based DEX Raydium in total trading volume. Uniswap's current market share in the DEX sector now stands at an impressive 65%, according to industry reports. As per CryptoPolitan on October 16, Raydium commanded 65% of all DEX trades at the start of 2025. However, during the first quarter, Uniswap reasserted its dominance, highlighting its market resilience. # Ethereum Recovery Boosts Uniswap’s Dominance Uniswap’s resurgence has coincided with Ethereum (ETH) rebounding from $1,400 to $2,700. By leveraging high-liquidity trading pairs like Wrapped Ethereum (WETH), USD Coin (USDC), and Wrapped Bitcoin (WBTC), Uniswap effectively manages substantial trading volumes. Conversely, Raydium has struggled amidst rising competition from smaller tokens, with trading volumes falling to $185 million (approximately 259 billion won). A recent pivot to meme coin trading has distracted the platform, impacting its market position. Even the use of bots on Solana hasn’t revived Raydium’s trading activity, as much liquidity is now routed through platforms like Jupiter. Although the Solana ecosystem is expanding, Raydium has not maintained its market share. Intense competition and dispersed DEX liquidity have led to significant capital outflows, particularly through meme coin activities spearheaded by Pump.fun, drawing retail traders away from Raydium. # Fee Revenue and Strategic Expansion: Uniswap Pulls Ahead Uniswap clearly leads in fee revenue. Over the past 24 hours, Uniswap generated $3.39 million (approximately 4.7 billion won) in fees, placing it among the top ten revenue-generating protocols. In contrast, Raydium pulled in only $1.38 million (approximately 1.9 billion won), a significant drop from its peak fee revenue of $13 million (approximately 18.2 billion won) during Solana’s prime. Raydium’s DEX market share within the Solana ecosystem has declined to 37%, down from its peak of over 60%. Competitors like PumpSwap, Orca, and Meteora have captured much of its market share. Furthermore, decreased new token issuance and a slowdown in Pump.fun activity have impeded Raydium’s recovery, while increased USDC inflows have bolstered trading activity on rival DEXs like Orca and Meteora. # Uniswap’s Multichain Strategy Drives Sustained Growth Uniswap’s expansion across multiple blockchains, including Binance Smart Chain (BSC) and its proprietary Unichain, has significantly boosted its market influence. This multichain strategy has attracted numerous users, establishing Uniswap as one of the most active smart contract platforms. Uniswap V3 has outperformed some centralized exchanges (CEXs), with average daily trading volumes surpassing $830 million (approximately 1.16 trillion won). Liquidity has also recovered, rising from $3.4 billion (approximately 4.76 trillion won) to $4.9 billion (approximately 6.86 trillion won). The Unichain deployment of Uniswap spans over 26 chains, drawing in $743.2 million (approximately 1.04 trillion won) over the last three months. The protocol’s total value locked (TVL) stands at $673.9 million (approximately 943.4 billion won). The governance token UNI has also seen significant recovery, nearing a three-month high of $6.27, up from $4.80. Transaction volumes involving UNI remain robust, with a continued rise in Ethereum transaction demand potentially pushing UNI past the $10 mark.