crvUSD Grow Steadily | Crypto Daily Digest Aug. 28
Despite the recent market volatility, crvUSD has continued to grow through August, with a total supply reaching a new all-time high of $127.9 million.
crvUSD is Curve's native collateralized debt position (CDP) stablecoin pegged to US dollar. The jump in the total amount of crvUSD borrowed comes after the stablecoin breiefly lost its peg parity with the US dollar in the wake of the Curve exploit in early August. The recent surge in the crvUSD and Curve's activity also suggest that user's confidence in the protocol has returned the following a number of well-known entity in the industry such as Binance have shown support and purchased $CRV token.
In addition, crvUSD continues to be a reliable source of income for the Curve DAO, with weekly revenue rivaling the combined trading fees from all non-Ethereum chains.
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