By Curtis Dye
On February 13, 2022, the total amount of Curve Finance stablecoin transactions in a single day surpassed $814 million, the highest level observed since the Tether Fud on November 10, 2022.
This significant increase in transaction volume indicated that Curve could weather the storm of negative market sentiment around Tether.
In terms of transaction volume, the most significant contribution came from a liquidity pool known as 3pool, which had a total of 712 million dollars and was one of the pools. 3pool finished in second, followed by tricrypto2, which had $79.5 million transactions, and steth pool, which had $22.5 million transactions. Steth Pool finished third.
Curve held steady amid market turbulence
As a result, it is impressive that Curve has been so consistent despite recent market turbulence. This indicates Curve’s capacity to endure market volatility while creating significant amounts of liquidity, which is no easy task.
Also read:Despite the volatile nature of the markets, Curve’s recent performance illustrates the firm’s stability and capacity to evolve into a major player in the DeFi industry in the long run.
Curve benefited from the SEC’s stablecoin regulatory tangle
Curve Finance is one of the companies that has benefited from the Securities and Exchange Commission’s regulatory nightmare in relation to stablecoins. The platform acts as the central nervous system for a decentralized algorithmic stablecoin and yields farming.
The Securities and Exchange Commission (SEC) has unwittingly drawn attention to the decentralized financial sector and, more particularly, decentralized stablecoins by filing legal action against Paxos, the issuer of Binance USD. This time, the SEC’s measures have been centered on decentralized stablecoins (BUSD).
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