#UniswapHandledOver60%OfTokenizedStockDEXTrading $20.9B RWA Trading Uniswap Captures the Majority

Tokenized stocks generated approximately $20.9 billion in DEX trading volume over the latest 30-day period, according to Token Terminal data. Uniswap V4 accounted for 40.7%, while V3 contributed another 19.4%.

Combined, V3 and V4 handled 60.1% of the entire tokenized-stock DEX market, equivalent to roughly $12.6 billion in volume.

This is more than a conventional DeFi-volume statistic. Tokenized versions of assets such as Apple, Tesla and NVIDIA are bringing traditional equity exposure onto blockchain infrastructure, creating a new category of on-chain trading activity. Uniswap has already made tokenized securities available through its Web App, Wallet and API.

V4 is becoming the key RWA gateway

The internal split is important. V4 alone processed approximately $8.5 billion, while V3 contributed around $4.1 billion.

That means the majority of Uniswap's tokenized-stock activity is already flowing through V4, while V3 remains a significant secondary venue. The combined $12.6 billion shows that Uniswap's role in tokenized equities is not coming from a single pool or isolated market.

UNI price has cooled from the $10 test

UNI is currently around $9.25–$9.30, below the recent $10 area. Recent market data shows UNI closed around $9.70 on September 26, then tested above $10 before pulling back; September 27 reached an intraday high near $10.18.

The recent price structure makes $10 the immediate psychological resistance zone. A sustained move back above $10 would need to be evaluated alongside stronger spot volume rather than price alone.

On the downside, the $9.00–$9.25 region has become an important area to monitor. UNI previously traded around $8.99 on September 21 and $9.15 on September 24, making this zone relevant when measuring whether the current pullback is simply consolidation or a deeper loss of momentum.

Protocol activity is not the same as UNI demand

One distinction is critical: $12.6 billion of tokenized-stock volume belongs to Uniswap protocol activity; it does not automatically translate into $12.6 billion of UNI-token demand.

The RWA numbers demonstrate strong usage of Uniswap infrastructure, but UNI's market value still depends on how that protocol activity connects with fees, governance, liquidity, ecosystem growth and actual demand for the token.

That makes the current setup more interesting than simply saying “RWA volume is bullish for UNI.”

RWA expansion gives Uniswap another growth channel

Uniswap reported previously that more than $9.1 billion had already been swapped through real-world-asset pools, across more than 2.6 million transactions and 140,000+ wallets. Tokenized securities including SpaceX, Apple, Tesla and NVIDIA are now available through Uniswap interfaces.

The latest $20.9 billion monthly tokenized-stock DEX volume therefore represents a much broader market-development story: traditional financial assets are becoming another source of decentralized liquidity and trading activity.

The $9.25–$10 range is the key battlefield

At the current $9.25 area, UNI is sitting between the recent support zone and the psychological $10 resistance.

For Gate Square traders, the important confirmation metrics are UNI spot volume, the $10 breakout attempt, DEX/RWA volume, Uniswap V3/V4 activity, derivatives open interest and funding.

If tokenized-stock activity continues expanding while UNI volume also increases, the market will have stronger evidence that growing protocol usage is translating into renewed attention around the token.

$20.9B tokenized-stock DEX volume → $12.6B through Uniswap V3/V4 → UNI around $9.25.

The central story is no longer just how much RWA volume Uniswap processes. It is whether this rapidly expanding on-chain equity market can become a durable source of Uniswap ecosystem activity while UNI attempts to reclaim the $10 zone. @Gate_Square