Uniswap's latest version, V4, has hit a new all-time high in trading volume. From the chart, we can see: • When it first launched in early 2025, the volume was almost flat, just a few hundred million to over a billion per week. • From mid-2025 to the end of the year, it started climbing steadily, peaking at around $10 billion per week. • There was a dip in the middle. • The most recent bar is the highest, exceeding $11 billion in a single week, significantly surpassing all previous weekly volumes. The most noticeable change in V4 is the addition of Hooks: Developers can add custom rules to liquidity pools, such as dynamic fees, stablecoin-specific pools, token issuance mechanisms, and even RWA-focused strategies. On the backend, creating pools is cheaper, and gas usage for bookkeeping is more efficient. After V4 launched, it remained lukewarm for quite a while. Most blue-chip liquidity stayed on V3, and routers and aggregators hadn’t fully integrated. It wasn’t until a year and a half later that the volume really started to pick up. There are a few reasons for the growth: 1. A significant portion of stablecoin pairs (like USDC/USDT) migrated to V4 because the fees and execution were more favorable. 2. Transactions related to Hooks have been hitting new highs for several consecutive weeks, though they’re not yet the main driver of this wave of volume. 3. Robinhood Chain has contributed significantly to this surge. V4 is finally gaining traction, but V3 is still running in parallel. The Uniswap upgrade journey is still ongoing. #Uniswap #DeFi #Crypto $USDC $USDT $BTC $ETH