Users flock to Curve amid lack of stablecoin liquidity on major DEXs
A concentration of stablecoins on a handful of platforms has drained liquidity from others. In a Tweet posted by user @cryptotutor Friday, a screenshot appears to show a 27% spread between stablecoin Magic Internet Money (MIM) and USD Coin (USDC) trading pair on decentralized exchange, or DEX, Uniswap (UNI). Both have a theoretical peg of 1:1 against the U.S. Dollar."Magic Internet Money," joked cryptotutor, as he attempted to swap approximately $1 million in MIM but received a quote for only 728.6k USDC. Others quickly took to social media to complain as well. In another screenshot, user....
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Curve Finance community members are already voting to terminate CRV releases from all UST liquidity pools. Curve Finance, an innovative crypto project, announced on Thursday morning that it would end all connections with the UST stablecoin. The platform took to Twitter, announcing how it’d be terminating its deal with the recently-crashed stablecoin, UST. This move […]
New pool allows European and Asian users to avoid US dollar exposure. Decentralized stablecoin exchange Curve Finance has added the euro as a secondary currency option following demand from users.As announced in a Dec. 20 tweet, Curve now has a liquidity pool for switching between the Stasis euro stablecoin (EURS) and a synthetic euro (sEUR) on the Synthetix derivatives platform. Currently the stablecoin market is dominated by currencies pegged to the U.S. dollar, meaning that European and Asian users often have no option but to take on some USD exposure whether they wish to or not.Curve....
Crypto asset trading has continued to skyrocket in 2021, hitting new and unprecedented records: Volumes reached $3.8 trillion in April 2021 when bitcoin hit its all-time high. Between August 2020 to 2021, the traded value on large decentralized exchanges (DEXs), like Curve, Uniswap, and PancakeSwap grew by about 550% Major centralized exchange (CEX) Binance’s spot cryptocurrency trading volumes totaled $789 billion in September, versus $454 billion (€390.7 billion) in July, while derivatives volumes jumped almost 25% to $1.7 trillion. DEXs have been gradually grabbing market share....
Will centralized exchanges continue to provide the regulated environments required for digital assets to evolve into the mainstream, or will the future belong to DEXs? Decentralized exchanges are undoubtedly an exciting development in crypto. DEXs facilitate the trading of cryptocurrencies directly between users, without the need for a trusted intermediary. This, in turn, allows users to keep custody of their funds.However, while DEXs have their advantages, they still lack in terms of regulations and scalability, which are key considerations that could determine the future trajectory of....
Blockchain analysis firm Nansen identifies two major takeaways following Terra's UST algorithmic stablecoin collapse. As the dust settles on the cataclysmic collapse of the Terra ecosystem, an on-chain deep-dive carried out by blockchain analytics firm Nansen highlights two major takeaways.The cryptocurrency ecosystem was awash with varying speculatory theories around the cause of Terra’s algorithmic stablecoin UST’s decoupling from its $1 peg. The who and why seemed a mystery but the outcome was catastrophic, with UST dropping well below $1 while the value of Terra’s stablecoin token....