Uniswap has seen a substantial surge in Layer 2 (L2) trading volumes, soaring to $20.72 billion in May 2024 from $8.93 billion in May 2023. This surge underscores the growing importance of L2 solutions within the Ethereum ecosystem, offering enhanced liquidity and trading efficiency.

Strategic partnerships with major L2 networks like Polygon, Arbitrum, and Optimism have been instrumental in Uniswap's success. These partnerships have led to the development of new Uniswap versions on these networks, amplifying their impact and trading capabilities. Additionally, the emergence of ZKSync Era as a significant player has further contributed to the overall growth of L2 activities on Uniswap.

L2 networks play a vital role in alleviating congestion on the Ethereum mainnet by handling a significant portion of transactions, including those related to gaming, NFTs, Web3 identities, and DeFi. The adoption of L2 solutions is on the rise due to their ability to offer lower fees and faster transaction times.

Uniswap's liquidity has surged to $6.34 billion, reflecting its expanding influence across multiple blockchains. Versions of Uniswap on various networks are attracting substantial inflows and active trades, with the expansion of networks like Arbitrum and Coinbase's Base chain further enhancing Uniswap's presence in the L2 space.

As of May 2024, the total market value of L2 assets stands at approximately $25 billion. Despite their highly liquid nature, the growth of L2 assets is influenced by market trends and technological advancements, such as the adoption of ZK-rollup technology for improved confidentiality.

ZKSync Era has emerged as a notable L2 network in 2024, driving transaction counts and user engagement. While it has yet to surpass Polygon in terms of active wallets, its rapid growth suggests a promising future. The recent integration of ZKSync Era with Uniswap has strengthened its position in the L2 landscape.

Overall, Uniswap's expansion and the increasing adoption of L2 solutions underscore the dynamic evolution of the DeFi ecosystem, paving the way for more efficient and scalable blockchain applications.