Uniswap Hits $3T, Bitcoin ETFs Cool Off, Ukraine Plans BTC Reserves
The crypto market delivered a wave of major developments this week, blending record-breaking milestones with bold moves from both the public and private sectors.
From Ukraine moving toward crypto reserves to stablecoins edging closer to institutional mainstream, these are the most important developments of the week in crypto.
Uniswap becomes first DEX to surpass $3 trillion trading volume
Decentralized exchange Uniswap has officially processed over $3 trillion in cumulative trading volume, becoming the first platform of its kind to hit this milestone.
The milestone underscores Uniswap’s growing dominance in decentralized finance (DeFi), with Layer 2 scaling and protocol upgrades driving sustained user activity.
Uniswap v4, launched in January, and the subsequent launch of its custom Layer 2 Unichain have helped reduce gas fees and attract over $4 billion in trading volume.
Founder Hayden Adams shared the news on X, calling it a step toward decentralizing the global finance system.
Despite the momentum, the protocol’s total value locked (TVL) remains well below 2021 highs, mirroring broader DeFi contraction.
Bitcoin ETFs record lowest inflows in a month despite BTC $2T market cap
Bitcoin’s recent surge past $105,000 has not translated into a spike in institutional demand. On Monday, Bitcoin ETFs saw just $5 million in net inflows, marking their weakest day since mid-April.
While BlackRock’s iShares Bitcoin Trust (IBIT) logged $69.4 million in inflows, Grayscale’s Bitcoin Trust (GBTC) posted $32.9 million in outflows, reflecting cautious sentiment.
Data from Glassnode indicates that retail buyers are still active, with “First-Time Buyers RSI” holding at 100, but momentum traders remain on the sidelines with an RSI of just 11.
Analysts warn that unless ETF demand picks up again, the $105,000 level may act as a resistance ceiling.
Ukraine to introduce bill allowing Bitcoin as a national reserve asset
Ukraine is preparing legislation that would authorize its central bank to hold Bitcoin in its national reserves, in what could become a first for Europe.
The bill, confirmed by lawmaker Yaroslav Zhelezniak, will soon be introduced in parliament and, if passed, would allow the National Bank of Ukraine to hold and manage BTC directly.
The proposal gained traction on social media, and according to some reputable sources, the country may seek to hold up to 40,000 BTC.
The move comes amid continued conflict and economic uncertainty, and is reportedly backed by Binance, which is advising on the technical and legal framework. Questions remain about custody, key management, and price volatility.
Solana tops Ethereum L2s as DeFi momentum builds
Solana’s network activity and revenue metrics have surged, with its $10.9 billion total value locked (TVL) now exceeding the combined TVL of all Ethereum Layer 2 networks.
According to DefiLlama, Solana’s 30-day fee revenue has climbed 109% over the past month to $43.4 million, driven by growth in DApps like Raydium and Marinade.
Despite recent struggles to hold above $180, SOL’s 8% perpetual funding rate signals strong bullish sentiment among leveraged traders.
Analysts say this trend could push SOL toward $200, especially if talk of a potential U.S. spot Solana ETF gains traction.
South Korea’s Democratic Party launches Digital Asset Committee
South Korea’s ruling Democratic Party has officially launched a Digital Asset Committee to spearhead regulatory development and support crypto industry growth.
The committee convened for its inaugural meeting on May 13 at the National Assembly Members’ Hall in Seoul, according to local outlet News1.
Discussions centered on stablecoin regulation and the country’s restrictive “one exchange, one bank” policy, which limits trading platforms to a single banking partner.
Executives from major domestic exchanges like Upbit, Bithumb, Coinbit, and Gopax participated in the session.
Committee members are also working alongside regulators to determine whether oversight of stablecoins should fall under the Financial Services Commission or the Bank of Korea.
The initiative highlights mounting political engagement in shaping digital asset policy as part of broader financial reforms.
BTCS raises $57.8M to expand Ethereum staking operations
Blockchain infrastructure firm BTCS, a Nasdaq-listed company, has secured a $57.8 million financing deal to deepen its Ethereum exposure.
The funding, led by ATW Partners, will support validator node expansion and Ether purchases. CEO Charles Allen likened the move to Strategy’s (formerly MicroStrategy) Bitcoin accumulation playbook, calling it a “critical inflection point” for Ethereum growth.
The first $7.8 million tranche includes a personal investment from Allen, and the convertible notes carry a 6% interest rate and a $5.85 conversion price, which is nearly triple BTCS’s current stock price.
The company’s Ether bet follows a 42% surge in ETH’s market cap this month.
Stablecoin adoption accelerates as 86% of institutions report integration readiness
According to Fireblocks, institutional adoption of stablecoins has reached record highs. In its latest report, 86% of surveyed firms say they’ve already integrated or are ready to integrate stablecoins into operations.
Drivers include improved compliance tooling, clear global regulations, and increasing demand for fast, cross-border payments.
Around 49% of respondents are already using stablecoins for real-world payments, while 58% of traditional banks identify cross-border settlement as their primary use case.
The stablecoin market cap is nearing $238 billion, and the shift from pilot programs to enterprise-grade usage reflects growing confidence that stablecoins are now part of the financial core, not just crypto side tech.
