DeFI News by Thebittimes.Com

Tether Imbalance Sending DeFi Market Into Turmoil The worrisome situation has developed in the wake of the Curve exploit, which shook the DeFi industry and led to the repatriation of more than 70% of the missing money. advertisement The concern is mostly focused on Curve’s 3pool and Uniswap V3’s main USDT-USDC pool, both of which have become unbalanced as a result of increased USDT selling, Kaiko’s report stated. Mid-July saw a major $100 million net selling on Uniswap between July 15 and July 22, which is when this problem first started. Despite selling having decreased in the weeks that followed, it resumed on July 31st in response to the Curve exploit. It’s important to note that these two incidents don’t seem to be connected. The selling pressure has been evident, with Uniswap experiencing around $40 million in net selling and Curve facing roughly $35 million. At present, the Curve pool is precariously skewed, with a hefty 60% in...

Most DeFi tokens traded in the red on weekly charts due to the chaos caused by the Curve Finance exploit. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The $47 million Curve Finance exploit on July 30 had a domino effect on the DeFi ecosystem , mainly due to the $100 million loan taken out by the Curve founder against the platform’s native Curve DAO (CRV) token. Several lending protocols have rushed in with new governance proposals to minimize CRV exposure risks as the token price fluctuates. On Aug. 3, the native stablecoin of the ecosystem crvUSD depegged due to market conditions. Being considered the backbone of the DeFi ecosystem , the Curve exploit could trigger a severe crisis. The Curve crisis also had a negative impact on the price of the DeFi tokens, with a majority trading in the red on the weekly charts. Curve Finance pools exploite...