Ethereum-Based DeFi Platform Sees Massive 900% Increase in Trading Volume After Regulators Target BUSD
Ethereum Nakikita ng Ethereum-Based DeFi Platform ang Napakalaking 900% Pagtaas sa Dami ng Trading Pagkatapos ng Target ng Mga Regulator ng BUSD 1 minuto ang nakalipas Balita ng Ethereum ng Bitcoin Trading volume on decentralized finance platform Curve Finance (CRV) is going parabolic following news that Paxos will stop issuing Binance USD (USD). Curve Finance is a decentralized exchange (DEX) focused on stablecoins, and has some of the biggest liquidity pools available in DeFi. Ayon sa blockchain tracker Defi Llama, volume on Curve Finance soared to the third-highest level in its entire history early this week. Source: DefiLlama/Twitter CurveFinances Twitter page also acknowledged the explosion in activity, saying that “good drama makes good trading volumes.” Source: Curve.Finance/Twitter Just before the platforms trading volume surged, the New York Department of Financial Services (NYDFS) ordered Paxos, which issues and operates BUSD in a partnership with Binance, iniutos the firm to freeze production. The activity on Curve Finance appears to be linked to traders shifting around capital to different stablecoin pools due to uncertainty surrounding BUSD. Curve Finance is also working on its own USD-pegged stablecoin known as crvUSD, which it released a whitepaper for late last year, but no release date has been given. CRV, Curve Finances governance token, has also turned green in the