Trading volumes associated with CRV, the governance token of Curve, a stablecoin decentralized exchange (DEX), is down 97% barely two months after it was hacked in late July 2023. According to Kaiko, CRV’s trading volume in centralized exchanges, especially Binance, where the token is actively traded, fell from nearly $300 million in late July to $7 million as of September 12. Trackers show that CRV is available for trading in multiple centralized and decentralized exchanges, including Binance, Uniswap, and Curve. However, considering the popularity and liquidity standing of Binance, most CRV trading was concentrated on the world’s popular crypto exchange. To illustrate, Binance’s share of CRV trading is about 20% when writing, while Bitbox is next with a dominance of around 7%. Curve’s TVL, Price, And Trading Volumes Collapse In crypto, a drop in trading volume often indicates waning interest in a digital asset or general caution practiced by investors. With falling volume, the asset’s liquidity takes a hit as traders or investors opt out, even liquidating the coin as they choose stability and refuge. Sometimes, they can adopt a ..
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