March 24, 2021: Curve's in All the Right Places 😍
Celebrating Curve's Coinbase Listing and BSC Ellipsis Launch
Here are today’s trends to watch from Curve Market Cap
Yesterday was a magical day in the history of Curve. After months of speculation, Coinbase Pro announced rollout for $CRV token:
As of Thursday, if liquidity requirements are met, CRV will be tradable for all Coinbase Pro users (except New Yorkers 😂🤣 ). The trading pairs for CRV will be USD, BTC, EUR and GBP.
Reaction was jubilant.
Although traders noted the Coinbase listing effect on price, it’s not necessarily cut and dry.
You see, a second nugget of news dropped yesterday that may actually be even bigger. Historians may forever debate how much of the price bump is attributable to which windfall.
Moments before the Coinbase announcement, Curve also announced an authorized fork of Curve on Binance Smart Chain called Ellipsis.
Partly due to Ethereum gas prices, a ton of DeFi activity is moving to BSC. Ellipsis gives the Curve fam some exposure to this activity.
While the precise numbers are hotly debated, nobody would debate that there is a ton of activity and potential on BSC. Yet BSC until now seemingly lacked a stablecoin liquidity solution like Curve.
Curve has emerged as a foundational protocol for DeFi on Ethereum, allowing other protocols to programmatically guarantee low slippage transactions. Perhaps Ellipsis will be able to fill this role on BSC?
The frenzy of activity would appear to indicate that speculators are bullish on Ellipsis’s prospects. Yesterday dump trucks of money raced to unload piles of cash into Ellipsis’s coffers.
Just a single tweet from Curve is worth almost a billion!
Could Curve have the power to end the Great Chain Wars? All it took to convert skeptics of Binance Smart Chain was free money.
Whatever may happen to Ellipsis, it’s certainly phenomenal news for Curve stakers. 25% of the $EPS supply will be distributed to veCRV holders over the next 5 years. $EPS appeared yesterday around the top 1000 on CoinMarketCap and is currently trading around $5.
We’ll surely learn a bit more once Ellipsis announces details on its first airdrop today.
The only loser may be PayPal, who are no doubt questioning their life choices.
The wonderful day of Curve news provoked jealous reaction among some imitators. Tomorrow we’re preparing a deeper dive into the flailing attempt of some sideshows to capture some of Curve’s thunder. Now’s a great time to send us your takes on the subject if you want to be quoted.
For today though, we celebrate!
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. Author is a Curve maximalist.