The volume of DeFi protocols peaks thanks to USDC depeg
The USDC depeg is producing traders nervous about asset shifts, even though also contributing to the spike in trading volume on DeFi platforms. The volume of De...
The USDC depeg is producing traders nervous about asset shifts, even though also contributing to the spike in trading volume on DeFi platforms.
This previous weekend was certainly a really “busy” time for the cryptocurrency neighborhood. We see panic overwhelm as the USDC stablecoin heavily depegs due to the influence of Silicon Valley Bank and related hazards in other regions.
When consumers flee crypto assets to far more safe assets, it also suggests that on-chain exercise is far more extreme, contributing to the spike in transaction volume on a lot of DeFi platforms.
As of three/eleven/2023, the foremost DEX in the marketplace nowadays is uniswap recorded the highest each day trading volume in historical past, a $eleven.84 billion. This variety is even almost double the just lately broken record of $six.67 billion.
Yesterday, it recorded the highest each day USD volume on record @Uniswap Protocol!
$eleven.84 billion, almost double the day of 2nd spot.@DuneAnalytics: https://t.co/KMQxfmlIlo pic.twitter.com/pn9X9yBNHq
—Austin Adams (@AustinAdamsten) March 12, 2023
Curve it also noticed the peak in each day trading volume eight billion bucks. The project’s Twitter tweeted to congratulate the milestone:
eight https://t.co/moNX9E0O1Z
— Curve Finance (@CurveFinance) March 11, 2023
March eleven is also the day DEX exercise peaked, when complete volume greater “breakthrough,” as the chart under demonstrates:
Volume development like this is right reflected in platform income. Since most DEXs earn based mostly on consumer transaction costs, an raise in volume suggests a massive raise in charge income.
Daily turnover of Ethereum record the peak $13.four million on March eleven, far more than doubled from the preceding day to just $four.seven million.
But on-chain asset transfers will not normally go “smoothly”. As it was Coinlive new, yes investors trade 2 million USDC but receive only 0.05 USDT because they are locked in the MEV. This was explained by KyberSwap and they uncovered a way to correct it.
Synthetic currency68
Maybe you are interested:
More From Crypto News
Why Is Pump.fun (PUMP) Price Down Today? Drivers to Watch
Pump.fun (PUMP) is trading at $0.00408859 on November 2, 2026, down 3.82% over the past 24 hours. The move extends a period of soft price action for the token,...
Robinhood Q3 Revenue Reaches $1.42B as Crypto Income Drops 55%
Robinhood posted $1.42 billion in total Q3 2025 revenue, while crypto-specific income dropped 55% in the same period, according to the company’s official earnin...
THORChain Glitch Blocks Binance Hack Route as FBI Presses Nodes
The reported glitch affected THORChain’s cross-chain swap infrastructure, creating an outage on a route law enforcement had flagged as active in moving hack-lin...
Why Is Pump.fun (PUMP) Price Surging Today?
Pump.fun’s native token PUMP is posting gains today, drawing renewed attention to the Solana-based token launchpad and its market-listed token.
FBI Confirms North Korea Role in $6B Binance Hack, Flags BTC, ETH, SOL Addresses
The FBI’s joint alert attributes the attack to TraderTraitor, the same state-sponsored unit behind the Bybit hack.
Binance Says 10 Cryptos Are Fully Backed After Hack
Binance has stated that Bitcoin, Ethereum, XRP, and seven other cryptocurrencies remain fully backed following a reported hack against the exchange.
