Curve Finance, a decentralized lending protocol and alter, notched record-breaking shopping for and promoting volumes of virtually $35 billion inside the first quarter of 2025, a spokesperson for the protocol knowledgeable Cointelegraph.
Trading volumes elevated better than 13% from the first quarter of 2024, largely due to a surge in transactions, from spherical 1.8 million to some 5.5 million in Q1 2025, Curve talked about.
The strong Q1 volumes come amid whole declines inside the cryptocurrency market, with the entire market capitalization of cryptocurrencies dropping by better than 20% inside the year-to-date as of March 31, according to information from CoinGecko.
Curve’s complete value locked (TVL) over time. Source: DefiLlama
Related: Curve Finance launches ‘Savings crvUSD’ yield-bearing stablecoin
Changing DeFi Landscape
Launched in 2020, Curve has taken fairly a number of steps beforehand 12 months to take care of tempo with the altering decentralized finance (DeFi) panorama.
In June 2024, Curve adopted crvUSD, its stablecoin, for fee distribution to tokenholders, altering an older model that paid holders in shares of the 3crv liquidity pool.
In November, Curve partnered with Elixir, a blockchain group, to help onboard BlackRock’s tokenized money market fund, BUIDL, to DeFi.
By the highest of 2025, Curve plans to consolidate its lending markets proper right into a single particular person interface and provide debtors with additional time to close positions sooner than they’re liquidated, it knowledgeable Cointelegraph.
Curve founder Michael Egorov talked about in March that he expects many decentralized exchanges (DEXs) to evolve into bespoke platforms for stablecoins pegged to quite a few overseas cash denominations.
“Exchanges between stablecoins of assorted denominations identical to the euro, US buck, and others mustn’t however accurately solved. How to supply liquidity with out shedding money, nevertheless whereas incomes some big money, is sort of an open question that I consider shall be solved rapidly,” Egorov talked about.
Despite the rise in transactions, the entire value locked (TVL) on Curve’s platform is roughly $1.8 billion as of April 2, consistent with information from DefILlama, down from highs of roughly $2.5 billion at first of the 12 months.
Curve’s native token, Curve DAO (CRV), has a market capitalization of roughly $640 million at this writing, marking a better than 40% decline inside the year-to-date, consistent with data from Cointelegraph.
Related: BTC miners adopted ‘treasury strategy,’ diversified business in 2024: Report
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