• The total amount of crvUSD borrowed on Curve has reached an all-time high.
• Curve’s TVL also increased by 4% in the last week.

Decentralized exchange (DEX) Curve Finance [CRV] has seen a resurgence in activity following 30 July’s attack, which resulted in the loss of $70 million. As per a 25 August tweet, the total amount borrowed for its crvUSD token recently rallied to an all-time high.

Casual ATH for total borrowed in crvUSD pic.twitter.com/xeYNm4wHJ0

— Curve Finance (@CurveFinance) August 25, 2023

Is your portfolio green? Check out the CRV Profit Calculator

crvUSD is Curve’s native collateralized-debt-position (CDP) stablecoin pegged to the US Dollar. The jump in the total amount of crvUSD borrowed comes after the coin briefly lost its parity with the US Dollar in the wake of the exploit.

On 3 August, crvUSD’s price fell below $1 by almost 0.5% before regaining its peg, data from CoinMarketCap showed. 

According to Dune Analytics, the total amount borrowed crvUSD as of 25 August was $69.41 million. This has risen steadily in the last week, growing by 33% since 17 August. 

Go to Source to See Full Article
Author: Abiodun Oladokun

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details