Uniswap

Uniswap
UNI
Contract address
0x1f98...01f984
Copy UNI contract address
$8.79
-$0.0206(-0.23%)Today
Market cap
5.46B
Total volume (24h)
1.16B
Volume / Market cap
0.2121
Circulating supply
620.79M
Day range (24h)
$8.53$9.25
All-time low
$1.03
All-time high
$44.92

About Uniswap (UNI)

Uniswap is a decentralized exchange (DEX) for cryptocurrencies that was launched in November 2018 by Hayden Adams on Ethereum mainnet. A DEX lets you trade tokens directly via open-source smart contracts, eliminating the need for a centralized exchange (CEX) or intermediary, like a bank. In the case of Uniswap, you can trade (aka swap) tokens that are ERC-20, and therefore compatible with the Ethereum Virtual Machine (EVM). 

Uniswap uses an Automated Market Maker (AMM) in lieu of traditional finance (TradFi) order books. Users add tokens to liquidity pools on the platform. In return for being a liquidity provider, you can earn a share of trading fees. When you want to trade tokens, Uniswap smart contracts calculate the exchange rate based on relative amounts tokens in the liquidity pool.

The native cryptocurrency of Uniswap is UNI, a utility token that is largely used for governance purposes. Holders of UNI can vote on decisions about the development and management of Uniswap. You can’t pay transaction fees with UNI. When trading, transaction fees are paid in the tokens being swapped.

UNI token holders are typically active DeFi investors and crypto protocol participants.

Price history

Today (September 21, 2026)$8.79-0.23%
24 hours ago (September 20, 2026)$8.81-0.23%
1 week ago (September 14, 2026)$6.73+30.62%
1 month ago (August 22, 2026)$4.38+100.79%
1 year ago (September 21, 2025)$9.14-3.83%

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UNI market moves

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24h change: +2.85%. From $8.77 to $9.02.

  • The SEC announced a five-year conditional exemption allowing tokenized securities venues to use automated market makers and liquidity pools to trade tokenized U.S. stocks without registering as traditional exchanges. The framework includes limits on volume and symbols, KYC requirements, and transparency rules such as publishing transaction data. It aligns directly with Uniswap v4 permissioned pools, launched in July 2026 with partners including Superstate, Securitize, and Dowgo, potentially enabling more regulated real-world asset activity on the protocol. This provides a regulatory path that could increase institutional participation while maintaining compliance controls.
  • Uniswap Labs published a temperature-check proposal to activate protocol fees across v2, v3, and v4 deployments on Circle's Arc Layer 1 blockchain. Fees would flow to TokenJar contracts where searchers can claim them by burning UNI, extending the existing burn mechanism already active on Ethereum, Robinhood Chain, and other networks. The proposal uses Wormhole for cross-chain governance from Ethereum. It follows UNIfication changes from late 2025 that formalized ecosystem responsibilities and linked trading activity more directly to UNI value accrual through fees and burns.
  • Uniswap is live on Arc with support across its protocol, web app, wallet, and API. Community observations show Uniswap accounting for the vast majority of fees generated on the chain, far outpacing dedicated launchpads. This continues a pattern seen on Robinhood Chain where Uniswap drives significant volume and protocol revenue that contributes to UNI burns. v4 features including hooks like StablePair are seeing adoption for stablecoin pairs and dynamic fees.

24h change: -3.09%. From $9.05 to $8.77.

  • The US Securities and Exchange Commission issued an innovation exemption allowing tokenized US stocks to trade through permissioned automated market makers and liquidity pools for five years without registering as traditional exchanges. This framework aligns closely with Uniswap v4's permissioned pools, which restrict access to verified participants while enabling on-chain settlement. The development has driven increased attention, trading volume, and a significant short-term price increase for UNI as it positions the protocol for potential regulated real-world asset activity.
  • The UNIfication governance changes activated protocol fees across Uniswap v2, v3, and select v4 pools, directing a portion of trading fees toward buying and burning UNI tokens. This creates a direct connection between protocol usage, revenue generation, and reduced token supply. Annualized burn rates have increased notably with high trading volumes, including contributions from Robinhood Chain, strengthening the token's value accrual mechanics.
  • Uniswap has deployed its protocol, web app, wallet, and API on Arc, Circle's layer-1 blockchain focused on stablecoin finance, tokenized RWAs, and payments. Governance discussions are underway to activate protocol fees on Arc, which would extend the UNI burn mechanism to the new chain. This expansion contributes to broader ecosystem growth and captures emerging liquidity flows in stablecoin and RWA sectors.

24h change: +0.59%. From $8.99 to $9.04.

  • On September 17, 2026, the SEC issued an Innovation Exemption allowing eligible Tokenized Securities Venues to trade tokenized US stocks through permissioned automated market makers and liquidity pools for five years. While the SEC did not directly approve Uniswap, the exemption aligns closely with Uniswap v4's Permissioned Pools infrastructure, which launched in July 2026 with partners including Superstate, Securitize, and Dowgo. UNI rose 18.67 percent within 24 hours to 9.05 dollars following the announcement.
  • The UNIfication proposal, passed in December 2025 with 99.9 percent support, activated protocol fees across Uniswap v2, v3, and v4, directing trading fees toward automated UNI buybacks and burns. The mechanism burns an estimated 90 million dollars in UNI annually, approximately 2.8 percent of circulating supply. Protocol fees totaled 28.2 million dollars from January through July 2026, with 100 million UNI from the treasury permanently burned in late December 2025.
  • Two whale wallets accumulated 1.075 million UNI worth approximately 7.24 million dollars within 24 hours on September 18, 2026. Earlier in September, Nansen-tracked whales added 257,777 UNI worth about 1.62 million dollars on September 2. Trading volume surged from around 500 million dollars to over 2.1 billion dollars in 24 hours. Uniswap processed over 70 billion dollars in trading volume in the previous 30 days, with Robinhood Chain accounting for around 56 percent of Uniswap v4's volume.

24h change: +17.14%. From $6.22 to $7.29.

  • The SEC issued temporary conditional exemptive relief for tokenized securities venues to trade certain tokenized national market system stocks using permissioned AMMs and liquidity pools without registering as traditional exchanges. The exemption requires full shareholder rights including voting and dividends and maintains permissioned access controls while allowing public blockchains. Uniswap v4 permissioned pools are positioned to support this regulated activity as the agency seeks public comment on expanding onchain capital markets infrastructure.
  • Uniswap processes 80 percent of Robinhood Stock Token volume translating to over $10 billion. The activity contributes to protocol fees that support UNI burns under the UNIfication framework. This demonstrates sustained real world asset trading interest on the protocol even as new regulatory clarity emerges.
  • The StablePair hook from Uniswap Labs has quickly become one of the highest volume pools on Ethereum by adjusting fees dynamically with market conditions. This reflects broader experimentation with v4 hooks for stablecoin pairs tokenized assets and other use cases. Permissioned pools and hooks continue to expand the protocol's infrastructure for both DeFi and potential real world asset applications.

24h change: +7.86%. From $6.30 to $6.80.

  • High trading volumes on Robinhood Chain have substantially increased fees routed to buy and burn UNI via the fee switch activated in late 2025. Daily burns have exceeded $1 million at peaks with the annualized rate recently crossing $250 million. This links real protocol usage directly to deflationary pressure on UNI supply. The mechanism has contributed to renewed interest in the token's value accrual model following the UNIfication governance changes.
  • Uniswap has deployed v2, v3, v4 and UniswapX on Circle's new Arc Layer 1 network along with its web app, wallet and API. The chain focuses on agentic finance, tokenized RWAs and payments with significant early TVL and volume. This continues Uniswap's pattern of integrating with new infrastructure to capture emerging DeFi flows and stablecoin trading.
  • Analysis claims over half of deployed v4 hooks show malicious behavior that can deliver worse prices to users than quoted. This has prompted public discussion between aggregators like 0x and Uniswap founder Hayden Adams on routing responsibility versus protocol design. The conversation highlights trade-offs in v4's customizable architecture as adoption and TVL in hooks increase.

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