Uniswap’s Cumulative Front-End Fees Exceed $1 Million in 24 Days

In a surprising revelation, on-chain data platform Token Terminal unearthed the massive cumulative front-end fees collected by the decentralized cryptocurrency exchange Uniswap Labs that exceeded $1 million in almost 24 days. According to an X post shared by reporter Colin Wu on his Wu Blockchain page, the estimated annualized revenue stands at an approximate value of $15.2 million.

Launched in 2018 by Hayden Adams, Uniswap Labs emerged as “a software development company that specializes in creating products for the Uniswap Protocol.” The Uniswap protocol is considered one of the largest decentralized trading protocols built on the Ethereum blockchain.

According to the data unveiled by Token Terminal, Uniswap’s daily fee rate has shown a surge of 69.8% in the last 7 days despite a decline of 43.5% in one day. These values are demonstrative of the growth of revenue, marking a similar plummet of 43.5% over the last 24 hours and a hike of 69.8% over the last 7 days.

In addition, the data also shared insights into the revenue earned by the platform over a larger period. Over the span of one month, Uniswap acquired $1.09 million in revenue. Similarly, the annualized revenue calculated by the Token Terminal amounts to a massive $13.30 million.

Uniswap (UNI), the Ethereum token powered by Uniswap Labs, is currently trading at a price of $5.45, marking a surge of 2.14% in one day. The price shows a notable increase of 12.91% in one week and 35.58% in one month. With a market cap of $3,205,533,233, UNI is ranked the 26^th largest cryptocurrency by market cap. At present, UNI boasts a 24-hour trading volume of $165,907,208.