Volume on Curve Finance Hits Record High of $7 Billion

Curve Finance has the highest daily trading volume in history, with a highover $7 billion in the last 24 hours after the collapse of Silicon Valley Bank (SVB) caused uncertainty in the market and pushed USDC down.

Curve supports liquidity pools for major stablecoins such as USDC, Tether, Frax (FRAX), Dai, and TrueUSD (TUSD), a fear that has been spreading across the crypto market over the past few hours. This has resulted in imbalances in the DeFi platform as the USDC selloff caused the main stablecoin price to drop below the peg $1.

USDC is the second largest stablecoin. It also acts as a collateral for several stablecoin ecosystems, enabling it to depeg other stablecoins such as the DAI issued by MakerDAO.

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