CRV trading volume up 900% after BUSD chaos

according to Deferrama, the trading volume of the decentralized finance platform Curve Finance has increased by 896.12% in the past 24 hours, exceeding $1 billion. Not only is this the highest level for the platform this year, but it is also the third highest in history, behind only the FTX crash and the dramatic Magic Internet Money (MIM).


source: Deferrama

The reason for the 9-fold increase in Curve Finance’s trading volume is the court investigation initiated by the US Securities and Exchange Commission (SEC) against BUSD. A stablecoin linked to one of the world’s largest exchanges has drawn attention from regulators and has suddenly been declared an unregistered security, barring the Paxos issuer from minting new tokens.

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When will crvUSD be launched?

On the other hand, Curve Finance (probably the largest decentralized platform) aggregates all types of stablecoins and allows cultivating spot profits from them. Additionally, Curve is also developing its own algorithmic stablecoin, crvUSD.

crvUSD is expected to be available soon, as the code and white paper were released at the end of November last year. Curve’s “dollars” will reportedly be powered by an innovative loan liquidation automated marketing algorithm that will continuously liquidate and sell collateral to manage risk.

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According to today’s headlines

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