Trading volume on Curve Finance (CRV) fell further in July due to a drop in demand for cryptocurrencies by individual and institutional investors.
Accordingly, trading volume on Curve Finance hit a new low in July – a month that proved to be one of the worst periods in the history of this decentralized exchange (DEX).
According to data from Dune Analytics, the exchange recorded a trading volume of around $8 billion during the month of July. This represents a 48% drop from June. The trading volume for June was around $15.5. billion.
Despite the drop in July, trading volume on Curve Finance is still up 53% compared to the same period last year. Accordingly, in July 2021, the transaction volume on Curve reached $5.17 billion. Overall, according to the latest statistics, trading volume on Curve is down $14.74 billion from the year-to-date high of $22.65 billion reached in January.
A lack of investor interest in altcoins on centralized exchanges (CEX) and DEXs has been credited with causing the drop.
Curve DAO Token (CRV), the native asset of the Curve Finance platform, opened July 1 with a trading price of $0.6843, hitting a monthly high of $1.56, testing a low at $0.6677, and closed July candle at $1.32. In general, despite the decrease in trading volume, the CRV price in July increased by 93%.
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