Curve mulls dropping TUSD as crvUSD backing after SEC charges
The regulator alleged TUSD was 99% backed by a risky offshore fund, raising concerns about using TUSD to back Curve's stablecoin.
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The regulator alleged TUSD was 99% backed by a risky offshore fund, raising concerns about using TUSD to back Curve's stablecoin.
As per the recent analysis by the analytics platform CryptoQuant, the altcoin market is moving in line with Bitcoin. This positive correlation shows that the altcoins are mimicking the movements of Bitcoin price, a factor that has boosted the confidence of investors in the crypto market. CryptoQuants data demonstrate that this pattern is not an […]
Curve Finances CRV token emissions reduced to 137 million annually, while Curve DAOs earnings surpassed emissions for the first time.
CRV, the native token of Curve, a stablecoin decentralized exchange (DEX), is under immense selling pressure. After the hack of July 2023, CRV has never been the same again. However, the painful liquidations of Michael Erogov’s loans have worsened the situation for holders. Curve Founder Forced To Sell $677,000 Of CRV, Token Falling After the forced liquidation in mid-June, which pushed prices below $0.30, data showed that the founder was also forced to sell CRV in the market to repay part of his loan. Yesterday, on July 25, Lookonchain data showed that Erogov was liquidated for $677,000 worth of CRV. Currently, CRV continues to print, discouraging lower lows. Even though the dump has not been as rapid as in June, the token is weak and could plunge below crucial support levels. For now, this level is at the double bottom at $0.21. On the upper end, resistance lies at $0.30. Interestingly, this resistance level served as support in June when prices slammed through the floor, accelerated by Erogov’s loans being liquidated. Then, due to the amount in the picture, there was fear across the crypto board that the founder’s loans would further destabilize the protocol, negatively impacting CRV holders. On-chain data shows that Erogov had borrowed roughly $100 million in stablecoins using $140 million in CRV as collateral. Some claim the founder bought prime real estate with this loan. Related Reading: Solana Set For 900% Rally With Breakout From This Pattern Analyst However, what’s known is that the series of forced liquidations and the scramble by the founder to offload CRV, which allowed him to be liquidated after the hack, forced prices even lower. Hopes On Spot Ethereum ETFs And Community Initiatives Since the hack on July 30, CRV has cratered by over 50%. Holders are facing it rough now that crypto prices are also sliding, retracing from their March 2024 peaks. Selling pressure has since eased after most of the CRV collateral posted by Erogov was reclaimed by lending protocolsincluding Frax and Aave. However, the token is still struggling for momentum. This weakness is a concern, especially considering the positive developments this week. As an Ethereum-based DEX, the approval and trading of spot Ethereum ETFs would benefit the protocol in the long run. Beyond the derivative product opening up institutions to Ethereum, Curve is also growing in strength. Recently, the community okayed a proposal to further boost CRV liquidity by bridging the gap between Solana and Ethereum via USDT. Related Reading: Wall Street Expert Sees 20x Potential In Ripple Via XRP And IPO Through this initiative floated by Picasso Network, a pool of USDT on Solana and USDT on Ethereum was launched. The goal is to encourage cross-chain activity and provide even more incentives for liquidity providers. Feature image from Canva, chart from TradingView
Binance Futures announces the launch of USDC-margined CRV perpetual contracts with up to 25x leverage, enhancing trading choices and experiences. (Read More)
Michael Egorov, the founder of Curve, has reportedly transferred another 3.75 million CRV tokens, worth $1.04 million, to christian2022.eth (@Christianeth) in what is believed to be an over-the-counter (OTC) deal. Did Michael Egorov (@newmichwill) and christian2022.eth (@Christianeth) close another 3.75M $CRV OTC deal after the recent 5% price drop? Note […]
Curve Finance has implemented a fee switch for its crvUSD stablecoin to enhance adoption and ecosystem engagement, according to a statement released on June 28. Launched in 2023 by the DeFi protocol, crvUSD has faced adoption challenges. However, Curve noted that crvUSD has become an outstanding fee generator, outperforming all other Curve DEX pools by […]
The post Curve Finance unlocks new potential with crvUSD fee switch appeared first on CryptoSlate.
Curve Finance shifts from 3crv to crvUSD for fee distribution, enhancing the stablecoins utility and ecosystem integration.
Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, [...]
The post Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree appeared first on Crypto Breaking News.
CRV, the native token of the stablecoin decentralized exchange Curve Finance, has been dumping in over the last year or so. After last weeks plunge, the token fell by as much as 75% from March 2024 highs, a huge concern for token holders. CRV Recovers, Adds 45% After Plunging However, according to one analyst who [...]
The post Is The CRV Painful Dip Over? This Event In August Could Spark A Rally appeared first on Crypto Breaking News.
The Curve CEO clarifies misinformation about the UwU Lend hack and CRV token burn, outlining preventative measures and repayment of bad debt.
The price of $CRV plummeted by up to 34% within three hours following the news that Curve Finance founder Michael Egorov had been liquidated. On-chain data reveals several critical points about the situation. The $CRV price dropped up to 34% (3H) after the news of the #Curvefi founder (Michale Egorov) […]
Michael Egorov, founder of Curve Finance, faced liquidation earlier today after the CRV token plummeted to an all-time low of $0.219. $27 million liquidated On-chain analyst EmberCN reported that Egorov’s lending positions were largely liquidated, totaling around 100 million CRV, valued at $27 million. Despite this, he still holds 39.35 million CRV, securing $5.4 million […]
The post Curve founder hit with $27M liquidation as CRV drops to historic low appeared first on CryptoSlate.
The DeFi protocol's native token plunged by 28% in a single day due to liquidations stemming from a hack attempt.
A sudden and dramatic crash in the value of Curve Finance’s native token, CRV, has resulted in substantial losses for bullish investors and the platform’s founder, Michael Egorov. Blockchain analysis platform Arkham reported that Egorov faced liquidations totaling $140 million in CRV. Curve Finance Founder Egorov Liquidated In a social media post on X (formerly Twitter), Arkham confirmed that Egorov’s lending position worth nine figures was liquidated across five protocols due to the price of CRV dropping below his liquidation threshold. Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? Egorov’s accounts incurred over a million dollars of bad debt on Curve’s Llamalend, which he managed to clear by receiving $6 million USDT. Additionally, Egorov experienced a $5 million liquidation on UwU Lend while making repayments on Inverse to mitigate further losses. On June 13, Curve contributor Saint Rat revealed that the protocol had incurred $11.5 million in bad debt, which could be resolved if the price of CRV rises to $0.33. Egorov expressed his commitment to working with the Curve Finance team to address the bad debt situation and protect users from its impact. Proposal To Burn 10% Of CRV Tokens In response to the crisis, Egorov proposed burning 10% of the total CRV supply to stabilize the token’s price. He also announced that active voters would receive a three-month boost on deposit rewards across all Curve platforms, aiming to incentivize participation and strengthen the ecosystem. Egorov also stated: The Curve Finance team and I have been working to solve the liquidation risk issue which happened today. Many of you are aware that I had all my loans liquidated. Size of my positions was too large for markets to handle and caused 10M of bad debt. Only CRV market on lend.curve.fi (where the position was the biggest) was affected. I have already repaid 93%, and I intend to repay the rest very shortly. It will help users not to suffer from this situation. Related Reading: Toncoin (TON) Set For 40% Breakout: Buy At This Price, Says Crypto Analyst Interestingly, this recent episode is not the first time Egorov has faced significant liquidations. Last year, he borrowed $60 million worth of loans from Aave, which posed a risk of bad debt in the event of liquidation. To address this, Gauntlet, a risk management firm, recommended freezing Aave’s v2 CRV market to minimize protocol risks. In a subsequent private deal, Egorov sold 106 million CRV for $46 million to repay most of his debts on Aave and other lending platforms, ultimately settling his debt to Aave with an $11 million USDT deposit in September. Before the market crash, CRV was trading at $0.3582. However, it plummeted nearly 40%, hitting an all-time low of $0.2220. Since then, the token has recovered and is currently trading at $0.2880. This recovery has helped to mitigate the losses incurred within the 24-hour timeframe, reducing them to 22%. Featured image from DALL-E, chart from TradingView.com
Binance enables CRV deposits and withdrawals on Arbitrum One and Optimism. (Read More)
Binance completes integrations of Curve (CRV) on Arbitrum One and Optimism networks, enabling deposits and withdrawals. (Read More)
In this Curve DAO Token (CRV) price prediction 2025, 2026-2030, we will analyze the price patterns of CRV by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency. TABLE OF CONTENTS INTRODUCTION Curve Dao (CRV) Current Market Status What is Curve Dao (CRV)? Curve Dao
CRV advanced bullish following another major gain since yesterday, although several obstacles lie ahead as it nears a key resistance level. Following Marchs rebound from a multi-month low of $0.35, CRV saw a nice recovery to a month high and pulled back into $0.39 the following month. Though it later initiated a buy after holding [...]
The long-awaited Altseason appears to be just around the corner, sparking growing excitement among crypto investors. Historically, Altseason refers to a period when altcoins significantly outperform Bitcoin (BTC), and current market signals suggest this phase may be about to kick off. Despite the broader market’s choppy conditions, several altcoins are showing impressive strength. Notably, EOS […]
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