Number 1 Network With $24 Billion TVL Now Ranked Only 10
The post Number 1 Network With $24 Billion TVL Now Ranked Only 10 appeared on BitcoinEthereumNews.com. Arman Shirinyan Once biggest protocol on DeFi landscape now in shambles after series of unfortunate events Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. CurveFinance, once hailed as the pinnacle of decentralized finance with a staggering $24 billion in total value locked (TVL), now sits forlornly at the 10th position, a shadow of its former glory. The recent setbacks have stirred conversations among crypto enthusiasts and industry analysts alike. A closer look reveals the possible reasons behind Curve’s significant decline. August was a month that would etch in the memories of many CurveFinance users. It was the month that saw a malicious hack, which led to a sharp decline in its TVL. Prior to the cyber breach, Curve had been boasting an impressive TVL of over $3 billion. However, the aftermath of the hack was devastating, causing significant damage and eroding trust in the platform. In its heyday, CurveFinance was the crown jewel of DeFi, outpacing its rivals with an unprecedented $24 billion+ TVL. To put the recent decline into perspective, even when Ethereum (ETH) was valued at a mere $800, CurveFinance still managed to maintain a TVL of approximately $6 billion. This fact underscores the depth of the decline and indicates that the platform’s troubles go beyond just market dynamics. TVL data shared by DefiLlama paints a stark picture. After leading the pack, Curve’s…
The post Number 1 Network With $24 Billion TVL Now Ranked Only 10 appeared on BitcoinEthereumNews.com.
Arman Shirinyan Once biggest protocol on DeFi landscape now in shambles after series of unfortunate events Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. CurveFinance, once hailed as the pinnacle of decentralized finance with a staggering $24 billion in total value locked (TVL), now sits forlornly at the 10th position, a shadow of its former glory. The recent setbacks have stirred conversations among crypto enthusiasts and industry analysts alike. A closer look reveals the possible reasons behind Curve’s significant decline. August was a month that would etch in the memories of many CurveFinance users. It was the month that saw a malicious hack, which led to a sharp decline in its TVL. Prior to the cyber breach, Curve had been boasting an impressive TVL of over $3 billion. However, the aftermath of the hack was devastating, causing significant damage and eroding trust in the platform. In its heyday, CurveFinance was the crown jewel of DeFi, outpacing its rivals with an unprecedented $24 billion+ TVL. To put the recent decline into perspective, even when Ethereum (ETH) was valued at a mere $800, CurveFinance still managed to maintain a TVL of approximately $6 billion. This fact underscores the depth of the decline and indicates that the platform’s troubles go beyond just market dynamics. TVL data shared by DefiLlama paints a stark picture. After leading the pack, Curve’s…
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