Curve exploit has fueled a slump in Ethereum TVL
Curve, prior to its exploit, was ranked as one of the top Ethereum-based stablecoin exchanges. Curve Finance occupies a pivotal niche on Ethereum and helps to drive robust liquidity, one that now appears to be significantly threatened by the hack.
The 8% slump in TVL can be attributed to Curve, seeing as the protocol is one of the dominant trading venues on the Ethereum blockchain.Per the dollar valuation, the TVL decrease on Ethereum is pegged at around $3.55 billion as the TVL of Curve slipped to new lows on the protocol.While the exploit of Curve Finance is a major setback for the DeFi protocol community, it is not a major challenge for Ethereum in itself.
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