For a long time, Curve was the decentralised application with the greatest value locked. According to Be [In] Crypto Research, the curve has lost 61 percent of its total locked value since the beginning of the year. On January 1, it had a TVL of over $23.25 billion, but by May 13, it had dropped to around $8.92 billion.
Curve is a decentralised exchange (DEX) that uses an automated market maker (AMM) to maintain liquidity for stablecoins (sUSD, DAI, EURS, USDC, USDT, UST, BUSD, and GUSD).
A drop in the aggregate total value locked on the blockchains where the DApp is deployed caused TVL to plummet. At the start of the year, the value of TVL on Ethereum was at $20.53 billion. The market’s bearish trajectory saw this sum decrease 62 percent to about $7.64 billion on May 13.
Curve TVL on Avalanche was $1.26 billion on January 1.CRV’s total value locked on May 13 was $477.06 million, down 62 percent in five months. At the start of the year, the total amount bet was roughly $2.21 billion. On May 13, this value had dropped by 66% to $744.51 million.
On January 1, the total value locked in CRV on Fantom was at $588.89 million. This sum had dropped by 54% to roughly $265.12 million in the second week of May. At the start of the year, Curve TVL was at $450.38 million on Arbitrum. Investor interest in TVL fell by 63 percent during the same time period, to $166.54 million.
Curve has lost ground to Lido and MakerDAO after falling by more than $14 billion because of the aforementioned chains. Despite the lower TVL, CRV continues to outperform Aave, Convex Finance, Uniswap, Compound, PancakeSwap, Instadapp, SushiSwap, and Balancer in terms of value locked.
Read more: Do Kwon launches a novel Curve pool that features major stablecoins
