Several DeFi players have posted some serious figures amid the market’s latest chaos.
The trading volume on the decentralized stablecoin exchange Curve Finance hit $6.03 billion on March 11 due to the panic caused to the depeg of Circle’s USDC stablecoin.
The platform’s popular stablecoin pool, composed of Circle’s embattled USDC, Tether’s USDT, and MakerDAO’s DAI, accounted for nearly 80% of the total trading volume.
The DEX’s liquidity providers (LPs) made $4.9 million in fees in the past seven days.
Looks like we have the biggest daily trading volume in history
— Curve Finance (@CurveFinance) March 11, 2023
Volumes on Uniswap also soared. The WETH-USDC pool, for example, hit $8.8 billion in trading volume over the last week across nearly 100,000 traders. WETH is a wrapped version of Ethereum that can be more easily integrated into smart contracts.
Similar pools, like USDT-USDC and DAI-USDC, hit $6 billion and $1.4 billion over the same period.
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Author: Nivesh Rustgi
Tip BTC Newswire with Cryptocurrency