Channels

Read

<div class="coingape"> 
 <p>Curve’s native crypto CRV coin has experienced a 25% drop in value within a span of three days due to a recent hack on the platform. The founder, Michael Egorov, has borrowed over $100 million using CRV as collateral in different crypto lending projects.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <p>The concern arises from the possibility of further CRV declines leading to forced liquidations of the loan positions, potentially causing additional losses. Speaking to Bloomberg, Stefan von Haenisch, head of sales trading at OSL SG Pte in Singapore, said:</p> 
 <blockquote> 
  <p>“If we move lower still and these liquidation levels are hit, we could see a domino effect” across the decentralized finance sector.</p> 
 </blockquote> 
 <p><a rel="noopener noreferrer nofollow" title="Curve Finance" href="https://thebittimes.com/tag/curve-finance.html">Curve Finance</a> is the second-largest decentralized exchange currently in the market after Uniswap. However, as per the DeFiLlama data, the amount of crypto using the <a rel="noopener noreferrer nofollow" title="Curve Finance" href="https://thebittimes.com/tag/curve-finance.html">Curve Finance</a> service has dropped to $1.9 billion from $3.6 billion earlier.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/01/9acafad721dcbc6c15e6daccd38017cb.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/01/9acafad721dcbc6c15e6daccd38017cb.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Exchange Affiliate Programs In 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/01/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/01/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/30/472515f3ab5ae759f4e49d6afa8bc33a.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/472515f3ab5ae759f4e49d6afa8bc33a.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/07/29/48cfebc8a0493db9937bed5dd005ee19.webp"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/29/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>But <a rel="noopener noreferrer nofollow" title="Curve Finance" href="https://thebittimes.com/tag/curve-finance.html">Curve Finance</a> Egorov believes that the DeFi industry will survive this incident. “We, and I personally, work on minimizing or eliminating the impact,” he wrote in an email to Bloomberg, while adding that he is also planning to reduce his loans.</p> 
 <h3 id="defi-tokens-fall-along-with-curve-finance-crv">DeFi tokens Fall along With Curve Finance (CRV)</h3> 
 <p>The recent Curve incident caused significant declines in mainstream DeFi tokens. COMP dropped by 18.19% to $61.98, CVX fell by 13.92% to $2.94, FXS declined by 13.11% to $5.16, and AAVE experienced a 12.63% drop to $62.14 in the last 24 hours.</p> 
 <p>As per DefiLlama, a considerable portion of the collateral is in danger of liquidation if the CRV token falls to 37.5 US cents. Over the past three days, Aave’s native token has seen a 14% drop. In DeFi, many view <a rel="noopener noreferrer nofollow" title="Curve Finance" href="https://thebittimes.com/tag/curve-finance.html">Curve Finance</a> as one of the most important liquidity providers, especially for stablecoins.</p> 
 <p>The <a rel="noopener noreferrer nofollow" title="Curve Finance" href="https://thebittimes.com/tag/curve-finance.html">Curve Finance</a> incidence has certainly put some selling pressure across the broader crypto market. The Bitcoin price has now slipped under $29,000 with trading volumes drying up a bit. The top ten altcoins have also been correcting 2-5% consecutively over the last two days.</p> 
</div>

Curve Finance Exploit Leads to Correction For Other DeFi Tokens

Table of Contents

TheBitTimes

Autres articles publiés le 1 août 2023

Price Analysis: What’s Going on With OCDO, LOOK, And RCH Stocks?

US Fed's Austan Goolsbee Predicts Interest Rate Cuts Scenario

Apakah Bull Run Bitcoin Telah Berakhir?

News to Delight FTX Victims! Bankrupt Crypto Exchange May Be Restarted!

Exploit on LeetSwap Leads to Loss of $624K Due to Price Manipulation

Fubon Bank to Use Ripple and Test Real Estate Tokenization

Join our free newsletter for daily crypto updates!