Uniswap v4 and v3 account for 47% of $161B DEX trading volume

Uniswap v3: Uniswap v3 is the concentrated liquidity version of the Uniswap protocol that enables liquidity providers to allocate capital within specific price ranges for improved capital efficiency. It remains a core component of the Uniswap ecosystem alongside newer upgrades. The protocol version continues to support substantial trading activity, including in stablecoin markets where it operates in tandem with v4 deployments. Uniswap v4: Uniswap v4 is the latest iteration of the Uniswap decentralized exchange protocol, introducing programmable hooks that allow for customized pool behaviors such as dynamic fees and permissioned access. It builds on prior versions with enhanced flexibility for liquidity providers and traders across multiple chains. In the context of recent stablecoin activity, v4 has seen targeted developments like the StablePair Hook to better capture value in stable pairs and integration with Circle's Arc for stablecoin-focused infrastructure. Stablecoin Focus: Uniswap has introduced specialized v4 hooks like StablePair to dynamically adjust fees and help liquidity providers retain more value from stablecoin pair trades. Ecosystem Integration: Uniswap protocol support has expanded to Circle's Arc, a layer-1 network dedicated to stablecoin finance, with full compatibility across its app, wallet, and API layers. Trading Infrastructure: Stablecoin pairs have emerged as a primary driver of activity on Uniswap versions, with v4 hooks enabling features tailored to correlated assets and efficient routing.