Unichain surpasses Ethereum as top chain for Uniswap v4 by transaction volume

Unichain, Uniswap's native Layer 2 blockchain, has emerged as the dominant chain for Uniswap version 4, surpassing Ethereum in transaction volume.A Dune Analytics dashboard by Entropy Advisors shows that Unichain has overtaken Ethereum to become the leading chain for Uniswap v4, with a market share of about 75% at the time of writing. Ethereum's share, by contrast, is below 20%. This shift began accelerating in mid-April 2025, driven by Unichain's growth and strategic incentives.Notably, Ethereum remains the dominant chain for Uniswap v3 in terms of trading volume, and that version is currently more widely used by end users.Uniswap v4, launched in January 2025, is the DEX's latest version and introduces hooks for custom code execution, dynamic fees, gas savings, and native ETH support. Unichain primarily focuses on Uniswap v4 and does not operate Uniswap v3 as a core component of its ecosystem.Uniswap v4: Volume Breakdown by Blockchain. Source: Dune Analytics (via entropy_advisors)Unichain's dominance in v4 is also attributed to a $45 million liquidity incentive program, which has driven a sharp increase in active addresses and value locked. According to DeFiLlama, it is currently the third-largest Layer 2 rollup by total value locked, at $800 million.Unichain, built on the Optimism Superchain, offers roughly 95% lower transaction costs than Ethereum's Layer 1. It features one-second block times, with plans to introduce 250ms sub-blocks to achieve near-instant transactions.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.