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Curve (CRV) Trading Volume Plunge 97% In 2 Months

Trading volumes associated with CRV, the governance token of Curve, a stablecoin decentralized exchange (DEX), is down 97% barely two months after it was hacked in late July 2023. According to Kaiko, CRV’s trading volume in centralized exchanges, especially Binance, where the token is actively traded, fell from nearly $300 million in late July to $7 million as of September 12. The drop in CRV valuation and trading volumes was worsened by the July exploit, which saw the protocol lose over $50 million worth of assets. Although Curve recovered most of those funds. CRV reacted to the hack by dropping, falling sharply on July 30 from around $0.74 to $0.48.

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