Curve’s Total Value Locked (TVL) plummeted in the second week of May as investors were no longer interested in the Defi sector (decentralized finance). Curve used to be the most locked-in value decentralized app for a long time. However, Curve has lost 65% of its TVL since the start of the year.
Launched in 2020, Curve is a decentralized exchange (DEX) for stablecoins (sUSD, DAI, EURS, USDC, USDT, UST, BUSD and GUSD), using an automated market generator (AMM) to manage liquidity.
On January 5, TVL was at around $24.3 billion but dropped to $8.5 billion on May 14, according to Defi Llama.
The reason TVL plummeted on Curve is because the total TVL plummeted on the blockchains on which this decentralized application is deployed.
- TVL on Ethereum at the beginning of the year at $21.24 billion. The market’s downtrend sent the metric down 66% to around $7.19 billion on May 14.
- On Avalanche on January 1 was about $1.28 billion. On May 14, the total value of CRV locked was $479.95 million, 62.5% lower in 5 months.
- The total stake on all chains was around $26.74 billion at the start of the year and dropped 66% to $9.12 million on May 14.
- The total value locked on Fantom was $579 million on January 6. By the second week of May, that number dropped 52.5% to about $274.94 million.
- On Arbitrum, TVL hit about $450.38 million at the start of the year. However, because of investor apathy, TVL fell 62% to $170.11 million during the same period.
After plummeting over $14 billion due to the aforementioned chains, Curve lost its top spot to MakerDAO.
Although TVL is decreasing, Curve still holds a larger share of TVL market than Lido, Aave, Convex Finance, Uniswap, Compound, PancakeSwap, Instadapp, SushiSwap and Balancer.
Curve Finance, the most important decentralized crypto change, has registered greater than $6.8 billion in each day buying and selling quantity throughout all chains. Crypto costs could also be falling however buying and selling volumes are hovering greater.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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