Curve Finance clocks $35B trading volume in Q1 2025

Launched in 2020, Curve has taken numerous steps in the past year to keep pace with the changing decentralized finance (DeFi) landscape.

In June 2024, Curve adopted crvUSD, its stablecoin, for fee distribution to tokenholders, replacing an older model that paid holders in shares of the 3crv liquidity pool.

In November, Curve partnered with Elixir, a blockchain network, to help onboard BlackRocks tokenized money market fund, BUIDL, to DeFi.

By the end of 2025, Curve plans to consolidate its lending markets into a single user interface and provide borrowers with more time to close positions before they are liquidated, it told Cointelegraph.

Curve founder Michael Egorov said in March that he expects many decentralized exchanges (DEXs) to evolve into bespoke platforms for stablecoins pegged to various currency denominations.

“Exchanges between stablecoins of different denominations like the euro, US dollar, and others are not yet properly solved. How to provide liquidity without losing money, but while earning a lot of money, is kind of an open question that I think will be solved soon,” Egorov said.

Despite the rise in transactions, the total value locked (TVL) on Curves platform is approximately $1.8 billion as of April 2, according to data from DefILlama, down from highs of roughly $2.5 billion at the start of the year.

Curves native token, Curve DAO (CRV), has a market capitalization of approximately $640 million at this writing, marking a more than 40% decline in the year-to-date, according to data from Cointelegraph.