Curve Finance trading volume reaches $7B historic high after USDC depeg
Cointelegraph
Published Mar 11, 2023 01:19PM ET
Updated Mar 12, 2023 04:20PM ET
Stablecoin swapping pool Curve Finance experienced the highest daily trading volume in its history, exceeding $7 billion in the 24 hours since the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets, causing USD Coin (USDC) to depeg from the U.S. dollar.
Curve supports liquidity pools for major stablecoins, such as USDC, Tether (USDT), Frax (FRAX), Dai (DAI) and TrueUSD (TUSD). Fear, uncertainty and doubt have spread across crypto markets during the last few hours, resulting in unbalanced pools in the decentralized finance platform due to a sell-off of USDC — leading the stablecoin to fall below its $1 peg.
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Written By: Cointelegraph
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