Uniswap v4 trading volume has shifted dramatically, with Unichain surpassing Ethereum to claim the dominant position. This rapid transition began mid-April 2025 when Unichain secured a staggering 75% of the total trading volume share. Ethereum’s share dropped below 30%, marking a significant shift in market dynamics. While no official comments from key figures have been released, the change is evident in Uniswap v4, where Ethereum’s role has been noticeably diminished. The transition will likely impact DeFi and other Ethereum-based services as liquidity migrates to Unichain. Market participants are responding cautiously to the growing dominance of Unichain, but the long-term implications for Ethereum remain uncertain. This shift echoes similar trends witnessed with the rise of Binance Smart Chain, highlighting how market changes can profoundly affect the dynamics of decentralized exchanges and impact token value.