<p>Uniswap, the non-custodial, automated market-maker exchange protocol, saw it's quarter-over-quarter volume surge by over 225% between Q4 2019 and Q1 2020.</p> <p>A good portion of that boost, perhaps unsurprisingly, came in the form of 'Black Thursday,' the mid-March crypto market event that saw the price of bitcoin, ether and other cryptocurrencies swing significantly. Uniswap saw an all-time monthly high of $191.4m in March.</p> <p>Volumes then fell roughly 60% in April ($77.3m). May, according to available data, is on course to see around $100m in protocol volume.</p> <div id="attachment_65535"class="wp-caption alignleft" style="max-width: 1334px;"><img class="has-caption wp-image-65535 size-full" src="https://www.tbstat.com/wp/uploads/2020/05/Uni.jpg" alt="" width="1324" height="790" /><p class="wp-caption-text"><em>Source: The Block, Dune Analytics</em></p></div> <p>As noted by The Block's Matteo Leibowitz, markets for three assets –DAI, USDC, and MKR markets – continue to comprise a majority of trading. In April, the three assets alone comprised roughly 72% of all volume.</p> <p>The busy quarter comes as the release of Uniswap's v2 approaches. As The Block <a href="https://www.theblockcrypto.com/post/59630/uniswap-announces-its-next-iteration-set-for-launch-in-q2" target="_blank" rel="noopener noreferrer">previously reported</a>, the new version will introduce features like ERC20 pairs, more manipulation-resilient price oracles and flash swaps.</p>