On Feb. 13, the total transaction amount on Curve stablecoin nearly hit $1 billion, with $712 million coming from 3pool. Curve had the most stablecoin transactions in a day since Nov. 10, 2022.
Curve Stablecoin Surges as USDC overtakes USDT
Curve Stablecoin, a decentralized finance (DeFi) project, has been making waves in the world of cryptocurrency with its high transaction volume. According to recent data, Curve Stablecoin has recorded the highest number of transactions in the DeFi space, surpassing even popular projects like Uniswap and SushiSwap.
Curve, backed by a basket of stablecoins, has seen increased demand due to its unique design, which allows for automatic rebalancing and minimizes the risk of price fluctuations.
Curve Stablecoin dominates transactions
Curve has emerged as a critical player in stablecoin trading, offering fast, efficient, and low-cost transactions towered by a robust decentralized protocol.
As the demand for stablecoins continues to grow in recent years, so has the use of Curve as a trading platform. According to data from Dune Analytics, Curve has become one of the most widely used DEXs (decentralized exchanges) in the cryptocurrency space, with billions of dollars in trading volume per day.
USDC has also been making significant gains in the stablecoin market, surpassing other stablecoins in market share. Recent data from Dune Analytics also shows that over the past year, USDC has outperformed other stablecoins and currently holds the top position, with a market share of 44.4%. Meanwhile, USDT and BUSD hold 35.2% and 18.7% of the overall stablecoin market, respectively.
Dune Analytics data shows that the number of USDC holders has surpassed 1.5 million in recent months, and there has been a corresponding increase in the number of transactions made using USDC compared to USDT. This indicates a growing preference for USDC as a stablecoin for specific use cases.
Source: https://crypto.news/curves-3pool-nearly-hits-1b-in-single-day-stablecoin-transactions/