January 11, 2021: Blood Runs Thicker than Pools 💉🩸

Keep Ahead of the Curve

Here are today’s trends to watch from Curve Market Cap:

The past 24 hours have witnessed one of the largest bear markets in cryptocurrency history.

The global crypto market cap sunk 17.0% to under $900B, with Bitcoin dropping 16.7%, and Ethereum down 21.5%. Funny enough, given the recent volatility, the cryptocurrency markets are still up on the week, but whatever bleeds leads.

One notable effect is that gas prices have exploded. Presumably traders are trying to move funds in panic. For several hours, gas prices have been consistently above 100 gwei.

One might predict that these trends could be harmful to Curve. And yet, Curve has been… just fine? 24 hour volume on the platform is a quarter of a billion dollars, fairly par for the course of late. Volume in the meta-pools has in fact ticked up over the past few hours as markets have tanked:

Larger pools that have shown an uptick in volume amidst the panic include $SUSD, $BUSD, $COMP, $SBTC, $USDT, and $SETH. These are mostly dollar denominated pools but include some BTC and ETH pools. It’s unclear if traders are intentionally seeking out these specific pools to park their money amidst unprecedented chaos, or if it’s just random noise. Either way, we suspect followers are keeping a close eye on Curve’s performance during this historic period.

For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice.