Uniswap Hits Record 24-Hour Volume Amid USDC Depeg

USDC depeg spurs massive swap activity, driving historic 24-hour and 7-day volumes on Uniswap and Curve, with millions in fees for Uniswap Labs.

Rich by Coin

2026-03-01

Over the weekend, a USDC depeg spurred Uniswap to record a 24-hour trading volume of about $12B, the highest on record for the platform. Over the next seven days, USDC pools across WETH, USDT, and DAI logged about $15B in volume, with the majority occurring from Friday to Sunday.

During this period, Uniswap Labs earned more than $8M in fees. Curve’s stablecoin swap pools also saw nearly $8B in volume, largely from traders swapping USDC for other tokens.

That level of activity highlighted the platform’s role in liquidity migration during a depeg event. The data underscores the breadth of liquidity shifts across DeFi during the depeg event.