Curve’s TVL plummeted 65% compared to the beginning of the year

Curve’s Total Value Locked (TVL) plummeted in the second week of May as investors were no longer interested in the Defi sector (decentralized finance). Curve used to be the most locked-in value decentralized app for a long time. However, Curve has lost 65% of its TVL since the start of the year.

Launched in 2020, Curve is a decentralized exchange (DEX) for stablecoins (sUSD, DAI, EURS, USDC, USDT, UST, BUSD and GUSD), using an automated market generator (AMM) to manage liquidity.

On January 5, TVL was at around $24.3 billion but dropped to $8.5 billion on May 14, according to Defi Llama.

The reason TVL plummeted on Curve is because the total TVL plummeted on the blockchains on which this decentralized application is deployed.

• TVL on Ethereum at the beginning of the year at $21.24 billion. The market’s downtrend sent the metric down 66% to around $7.19 billion on May 14.

• On Avalanche on January 1 was about $1.28 billion. On May 14, the total value of CRV locked was $479.95 million, 62.5% lower in 5 months.

• The total stake on all chains was around $26.74 billion at the start of the year and dropped 66% to $9.12 million on May 14.

• The total value locked on Fantom was $579 million on January 6. By the second week of May, that number dropped 52.5% to about $274.94 million.

• On Arbitrum, TVL hit about $450.38 million at the start of the year. However, because of investor apathy, TVL fell 62% to $170.11 million during the same period.

After plummeting over $14 billion due to the aforementioned chains, Curve lost its top spot to MakerDAO.

Although TVL is decreasing, Curve still holds a larger share of TVL market than Lido, Aave, Convex Finance, Uniswap, Compound, PancakeSwap, Instadapp, SushiSwap and Balancer.

Curve Finance, the most important decentralized crypto change, has registered greater than $6.8 billion in each day buying and selling quantity throughout all chains. Crypto costs could also be falling however buying and selling volumes are hovering greater.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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