Curve DAO Token (CRV), altcoin price has surged over 18% in the past 24 hours as Terra launches the ambitious ‘4pool’ liquidity pool on the DeFi platform.
After the 4pool launch, CRV TVL reached $19 billion
Curve DAO Token (CRV) became the highest earning token among the top 100 cryptocurrencies. Curve Finance has successfully activated 4pool stablecoin which includes TerraUSD (UST), Tether (USDT), USD Coin (USDC) and Frax. The new liquidity pool is expected to attract more capital to Curve.
The 4pool liquidity pool combines liquidity from four different stablecoins to offer returns on deposits similar to a decentralized savings account. Announced in a tweet, its launch on Curve is expected to further boost deposits. Curve is the largest DeFi lending platform with over $19 billion in total locked value, according to data from DeFi Lama.
As it is mentioned in the news ofKriptokoin.com, Curve Finance previously presented a simulation where 3pool fees were reduced to 1 bps. He mentioned that 3pool fees have become necessary in the stablecoin market. DeFi Lama added that 3pool earnings may fall, but overall DAO earnings will eventually increase due to the efficiency of metapools. It is estimated that over $16.75 billion in CRVs is locked on the Ethereum network.
Altcoin price jumped and 24-hour trading volume increased by 100%
The 24-hour trading volume of CRV tokens jumped by over 100% to $300 million. The recent price surge helped the token clean up the losses of the last 7 days. The CRV token is trading at an average price of $2.56 at press time. The CRV token managed to become the 69th largest cryptocurrency with a total market cap of $1.1 billion.
CRV daily price chart / Source: CoinMarketCap According to WhaleStats, the CRV token has been listed among the most used smart contracts by the top 1,000 Ethereum whales. Meanwhile, Whales are accumulating USDC and USDT stablecoins. USDC and USDT also made it into the top 10 tokens bought by ETH whales in the last 24 hours. The largest of the whales holds USDC and USDT tokens worth $722 million and $611 million, respectively. USDC and USDT account for 11.21% and 9.47% of total whale assets, respectively.
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