KoinlyticsUniswap V4 has crossed V3 on daily trading volume for the first time. The flip has been slow-building for months and is the clearest sign yet that the V4 hook architecture is not a research experiment but a production venue where actual flow now prefers to live.
Why this matters more than a normal upgrade
V3 introduced concentrated liquidity in 2021 and defined the DEX playing field for four years. V4's advantage is not another liquidity model, it is programmable pools: hooks let a pool run custom logic on every swap, deposit and withdrawal. That is what tokenised real-world asset issuers, MEV-aware market makers, and dynamic-fee designers actually wanted. When they built, they built on V4.
Where the volume comes from
The bulk of the V4 flip is coming from three sources: dynamic-fee pools that undercut V3 fee tiers on high-volume pairs, RWA pools with issuer-controlled logic, and singleton architecture savings that make aggregators route more paths through V4. Passive V3 liquidity is not disappearing overnight, but new LP capital and new pair launches are increasingly V4-native.
The portfolio angle
If you are an LP on V3, this is a signal to check whether your fee-tier is still the deepest venue for your pair. Migrating to V4 costs gas and can change your IL profile if the new pool has different hooks (dynamic fees, TWAP rebalance, etc). If you are an LP on V4, watch which hooks the routers are actually hitting, because volume attribution and effective fees can look very different from V3.
What Koinlytics tracks: your Uniswap V3 and V4 positions in one view, per-pool yield, fees earned, and impermanent loss versus HODL so you can compare venues without spreadsheeting.