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Defi Token Jumping Along With Other Stablecoins

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  • At a web3 summit, Micheal Egorov announced the launch of a stablecoin (over-collateralized) that will be launched by Curve.
  • The TVL (Total Value Locked) on the Curve protocol holds $6.02 billion.
  • CRV is trading right now at a $1.41 mark.

The Launch of Curve Finance Token

Within the last 24 hours, Curve DAO Token (CRV) has shown immense growth. This refers to the fact that the token has grown more than 21% in just one day. CRV is the native token of Curve protocol. The 60th largest token in the world has a market capitalization of $760 million. CRV is trading right now at a $1.41 mark. But why is that even happening, you might ask. Well, this bullish action is the confirmation of the Curve stablecoin launch.

At a web3 summit, Micheal Egorov announced the launch of a stablecoin (over-collateralized) that will be launched by Curve. Micheal is the founder of Curve Finance. Without giving too much detail regarding the project, all Ergov said was ‘Over-collat’. Curve Finance is on track to launch a fully decentralized over-collateralized stablecoin in collaboration with the major DeFi protocols, such as Aave and Maker.

The Crypto Growth 

These stablecoins are backed by volatile digital assets, including Bitcoin, Ethereum, and others. Even though we can see the bullish pattern, the native governance token is still 97.67%, down from its all-time high of $60.50. This was recorded in August 2020. According to data from Etherscan, around 75,393 wallets that own CRV tokens surged 0.052% more than the last day.

The TVL (Total Value Locked) on the Curve protocol holds $6.02 billion. According to sources, another $765 million are staked in the protocol. There are some other coins too within the Defi sector(Decentralized Finance), such as:

  • Lido (10.6%)
  • Sushi(7.5%)
  • Compound(8%)
  • 1inch(5%)

The most famous cryptocurrency, Bitcoin, has grown around 1.65% in the past 24 hours, trading at $23,250. Around the same time, Ethereum has risen by 8.4% profit.

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