- Curve has alluded to plans to integrate with zkSync 2.0 mainnet.
- The integration could help Curve and CRV scale as CRV price has dropped.
Curve to start on zkSync
As more users turned to Defi and DEXs due to the FTX collapse, Curve Finance and its natives CRV Token became one of the winners.
Curve is an Ethereum based multichain technology. Its recent statement said it would integrate with the zkSync 2.0 mainnet to further improve its offering.
It was uncovered On December 14th, Curve Finance would be one of the protocols deployed on the zkSync 2.0 mainnet. This deployment would be the first of its kind on the ZK rollup, a revolutionary scaling and privacy mechanism for Ethereum.
Curve’s DAO inspired Curve to become a leading Automated Market Maker (AMM) that has built hundreds of liquidity pools through its factory.
Plea for integration
Its transactions with ERC-20 tokens are cheap, fast and liquid due to Curve’s proprietary algorithms. The network routinely processes more than $100 million in daily volume, making it one of the top DeFi by volume.
Curve’s integration with zkSync means more people can experience the promise of universal crypto accessibility. This allows the protocol to benefit from the speed, scalability and security of the zkSync 2.0 platform and make it available to a wider audience of users in the DeFi environment.
The integration would allow more people to use the ecosystem, which could lead to expansion. The ecosystem’s native coin, CRV, could also benefit from this.
A drop in price and TVL
According to a review at CRV on a daily timeframe, the asset had seen little price movement recently. December 13 saw the latest set of profitable price changes from CRV.
The asset grew about 6%, bringing the price to around $0.60. However, the price was down more than 4% in the past 48 hours as you can see. The Relative Strength Index fell below the 50-line level, indicating a decline in price. The position of the RSI indicated that the asset was down.
Source: TradingView
Additionally, a look at Curve’s Total Value Locked (TVL) showed that it had recently dropped billions of dollars due to various incidents.
TVL was $3.73 billion at the time of writing, compared to nearly $18 billion earlier in the year. Since the protocol could be launched on chains integrated with zkSync, integrations could accelerate TVL’s growth.
Source: Defillama
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.