Ethereum-Based DeFi Platform Saw Huge 900% Increase in Trading Volume

It’s been just revealed that the ETH-based DeFi platform saw a massive 900% increase in trading volume. Check out the latest reports about this below.

Trading volume on the decentralized finance platform Curve Finance (CRV) is going parabolic. This is reportedly following news that Paxos will stop issuing Binance USD (BUSD).

Curve Finance is a decentralized exchange (DEX) that is focused on stablecoins, and has some of the biggest liquidity pools available in DeFi.

According to blockchain tracker DefiLlama, volume on Curve Finance soared to the third-highest level in its entire history early this week.

“CurveFinance has recorded a trading volume of $1.07 billion over the past 24 hours, marking a new high for the year. Only two other days in its history have seen a higher volume, and they both occurred immediately after the collapse of FTX.”

CurveFinance’s Twitter page also acknowledged the explosion in activity, saying that “good drama makes good trading volumes.”

It’s just been revealed that there are various optimistic crypto predictions out.

It’s been just revealed that there is a popular crypto analyst who believes that Bitcoin (BTC) could now be in a position to significantly outperform Ethereum (ETH).

Pseudonymous analyst Kaleo said recently that the Ethereum/Bitcoin pair (ETH/BTC) is now trading below a diagonal trendline, suggesting that ETH is likely to trail BTC in terms of gains.

“ETH/BTC finally broke beneath the high timeframe support line we’ve been watching.”

He continued and said the following:

“Remember, this chart only shows relative strength to BTC, so expect to see BTC begin to outpace a bit more rapidly sometime over the next several weeks.”

Looking at Bitcoin itself, Kaleo says BTC is likely headed toward the $30,000 price level after it managed to bounce from support at around $21,000.

Stay tuned for more news.