Uniswap v4 has officially crossed $1 billion in Total Value Locked (TVL), marking a key milestone for Ethereum’s most dominant decentralized exchange protocol. Since launching v4 with new “Hooks” architecture and modular liquidity design, Uniswap has attracted growing attention from developers and liquidity providers – but the bigger picture tells a more complex story about DeFi activity across chains.
Despite this $1B milestone, Ethereum is still being outpaced by Solana in some core DeFi metrics. Solana’s top DEX, Raydium, currently holds over $2.3 billion in TVL, meaning more user capital is actively deployed on Solana than on Ethereum’s most powerful DEX iteration.
This reflects broader momentum behind Solana’s faster, cheaper execution environment – and its appeal to high-frequency traders and yield farmers.
Uniswap v4 TVL recently surpassed $1 billion, with cumulative trading volume exceeding $110 billion. Both TVL and daily trading activity are primarily concentrated on Unichain and Ethereum. To date, over 2,500 Hooks have deployed liquidity pools, with Bunni and EulerSwap each…
— Wu Blockchain (@WuBlockchain) July 27, 2025
Still, the adoption of Uniswap v4 is growing steadily. To date, over 2,500 Hooks have been deployed – Hooks are Uniswap v4’s signature innovation, enabling highly customizable liquidity pools with features like dynamic fees, on-chain limit orders, TWAP oracles, and more.
These tools make Uniswap v4 not just an AMM, but a DeFi infrastructure layer.
More importantly, Uniswap v4 has now processed over $110 billion in cumulative trading volume, with most of that activity concentrated on Ethereum mainnet and Unichain. This signals that while Ethereum may not be leading in raw TVL, it’s still central to institutional-grade liquidity and larger trade sizes.
Protocols like Bunni and EulerSwap are already emerging as winners within the v4 ecosystem, each recording more than $1 billion in cumulative trading volume. This hints at the next wave of innovation and competition among Uniswap-native apps.
In short, Uniswap v4 is cementing its role as Ethereum’s liquidity backbone – but the race for DeFi dominance is still wide open, especially as chains like Solana and Base continue to grow at a rapid pace.
The next few months will reveal whether Uniswap’s modular flexibility can offset Ethereum’s higher fees and slower finality – or if Solana’s real-time execution will continue to attract the bulk of DeFi traders.
Read also: Can Cardano (ADA) Eventually Flip Ethereum (ETH)?
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