As a seasoned researcher with years of immersion in the dynamic world of cryptocurrencies, I find the growth trajectory of Curve Finance particularly intriguing. The platform’s recent surge in annualized revenues and token value is indeed impressive, especially considering it was launched just last year.
In the last month, the decentralized trading platform known as Curve Finance has generated approximately $37 million in yearly earnings, based on statistics provided by Token Terminal.
As a researcher reporting, I’ve noticed an approximately 23% surge in our metrics compared to the previous month, primarily driven by heightened interest in leveraged financing and the recent launches of the Savings vault and the scrvUSD token. This information was shared with CryptoMoon on December 3rd.
The increase we’re seeing matches the general positivity in the market due to the latest U.S. elections, as expressed by our representative in a statement.
“The anticipation of pro-crypto policies under [President-elect] Donald Trump’s administration has strengthened market confidence, driving crypto prices as well as the demand for products like crvUSD.”
Curve’s busy 2024
As a crypto investor, I’ve experienced an impressive surge of around 300% in the value of Curve’s native token, CRV, since Donald Trump emerged victorious in the November 5th United States presidential election. Now, CRV stands tall with a market capitalization surpassing the $1 billion mark, as reported by CoinGecko.
2020 saw the debut of a Decentralized Finance (DeFi) protocol that, despite being established, has been making moves this year to keep pace with its more youthful competitors.
In June, Curve switched from distributing fees using an older method that provided token holders with shares in a 3crv liquidity pool, to giving out its stablecoin, crvUSD, for fee distribution among tokenholders instead.
The base currency, crvUSD, is backed or secured by various digital assets such as Ether (ETH), Wrapped Bitcoin, and more, with a value that exceeds the required amount.
On November 13th, the launch of a decentralized savings-focused stablecoin named “Savings-curve USD” (sCRV USD) was announced by Curve. This new coin aims to provide “minimal risk” returns for investors and contribute to the expansion of the crvUSD stablecoin ecosystem.
Over the past few months since its debut in November, scrvUSD has drawn close to 14.5 million dollars in deposits, as disclosed by Curve to CryptoMoon.
On November 29th, Curve collaborated with the Elixir blockchain network to broaden decentralized finance (DeFi) opportunities for BlackRock’s tokenized money market fund, referred to as ‘BUILD’.
Low-risk yield demand
Demand is surging for tokens that claim to offer a low-risk yield.
It’s particularly applicable to yields derived from digital representations of real-world assets like Treasury bills and financial tools in the money market. However, it also extends to yields generated by revenue streams from protocols, such as scrvUSD.
As per data from RWA.xyz, the worth of tokenized Treasury products like BUIDL has surpassed $2.5 billion in total value, marking a significant rise of over three times since the start of 2024.
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2024-12-03 20:35