Uniswap maintains a leading position among decentralized exchanges (DEXs), driven by its pioneering automated market maker (AMM) model. In 2024, it processed $244 billion in Q4 trading volume, holding a significant but stabilizing market share below 40% as competitors grow. Its layer-2 solution, Unichain, recorded $217.7 billion in DEX volume in its debut month, surpassing Ethereum’s base layer. User growth remains robust, with over 5 million users historically and 236,000 active addresses on Unichain, reflecting strong adoption. Uniswap’s scalability and low-cost transactions reinforce its dominance despite rising competition.