The Curve DAO Token (CRV) surged over 17% in the last 24 hours as Terra launched it ambitious “4pool” liquidity pool on the DeFi platform.
CRV has become the top gaining token among the top 100 cryptocurrencies. Curve Finance has successfully activated the 4pool stablecoin which includes TerraUSD (UST), Tether (USDT), USD Coin (USDC), and Frax.
The new liquidity pool is expected to attract more capital into Curve.
CRV TVL hits $19 billion
The 4pool liquidity pool combines liquidity from four different stablecoins to offer returns on deposits, akin to a decentralized savings account. Its launch on Curve, which was announced in a tweet, is expected to further increase deposits.
Curve is the largest DeFi lending platform by total value locked, which stands at over $19 billion, according to data from DeFi Lama.
Earlier, the Curve Finance presented a simulation of 3pool fees being reduced to 1 bps. It mentioned that 3pool fees have become necessary in the stable coin market. Blog added that 3pool earnings might decrease however the total DAO earnings will eventually increase due to the efficiency of metapools.
It is estimated that over $16.75 billion worth of CRV is being locked in the Ethereum network.
CRV 24 hr trading vol surges by 100%
The CRV tokens 24 hours trading volume has skyrocketed by over 100% to $300 million. The recent price spike has helped the token to wash the last 7 days’ loss. The CRV token is trading at an average price of $2.45, at the press time. CRV token has managed to be the 70th largest cryptocurrency with a total market capitalization of $1.1 billion.
According to WhaleStats, the CRV token was listed among the most used smart contracts by the biggest 1000 Ethereum (ETH) whales. Meanwhile, Whales have been accumulating USDC and USDT stablecoin. The USDC and USDT have also landed in the top 10 tokens purchased by ETH whales in the last 24 hours. The biggest of the whales holds more than $722 million and $611 million worth of USDC and USDT tokens, respectively.
The biggest of the whales holds more than $722 million and $611 million worth of USDC and USDT tokens, respectively. USDC and USDT make 11.21% and 9.47% of the total whale holdings, respectively.