Decentralized exchanges (DEX) Uniswap and CurveFinance recorded lifetime high trading volumes over the weekend as traders rushed to exchange token holdings, specifically USD Coin ($USDC). By shauryamalwa
Decentralized exchanges Uniswap and Curve recorded lifetime high trading volumes over the weekend as traders rushed to exchange token holdings, specifically USD Coin .
DEXs rely on smart contracts instead of middlemen to provide financial services, such as trading, lending, or borrowing, to users. Users deposit their tokens to pools to provide liquidity to the platform for rewards – typically a cut of fees paid by traders who use these services. This generated over $8 million in fees for the Uniswap protocol, adding to Uniswap Labs’ revenue and a smaller percentage paid out to liquidity providers.Circle Internet Financial's USDC stablecoin massively depegged from its intended $1 price on Friday night after Silicon Valley Bank , where Circle parked over $3.3 billion in treasury assets, was shut by regulators.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance Adds BNB/USDC, BTC/USDC & ETH/USDC Trading Pairs | Binance SupportFellow Binancians, Binance will open trading for the BNB/USDC, BTC/USDC and ETH/USDC trading pairs at 2023-03-12 06:30 (UTC) . Start Trading on Binance Spot Now! Notes: Where any discrepancy ari...
Read more »
USDC Dominated Trading Volume on Decentralized Exchanges Amidst Depegging Incident – Market Updates Bitcoin NewsStatistics recorded on Saturday show that more than 55% of Uniswap’s trades involved $USDC against wrapped ether, and the stablecoin tether.
Read more »
Curve Finance trading volume reaches $7B historic high after USDC depegThe DeFi pool Curve Finance is facing its highest daily trading volume as USDC and other stablecoins depeg.
Read more »
USDC investor shells out $2M to receive $0.05 USDT trying to evade crashThe user could have sold his liquidity pool tokens for USDT for a 6% slippage. However, they chose to go for a ‘questionable’ method.
Read more »
USDC remains at about $0.90 following Circle's disclosure of funds at SVBMany stablecoins are trading below their pegs after Circle disclosed that $3.3 billion of USDC's reserves is with Silicon Valley Bank.
Read more »
Stablecoin USDC faces $3.3 billion exposure to Silicon Valley BankCrypto exchange Coinbase said Friday it is temporarily suspending the conversion between stablecoin USDC and USD over the weekend, after the stablecoin's...
Read more »