Curve generates $500,000 daily at a price level of $0.438, while the last time it reached this income level the price was still above $6. The supply of crvUSD has reached a historical high of $500 million, making it the third largest stablecoin on Ethereum.
The protocol has an annual revenue of 150 million USD and a market capitalization of only 626 million USD. Each yield basis BTC purchase requires crvUSD.
After 6 days, the Fusaka upgrade will unlock a 3x gas limit, and this valuation gap won't last too long.
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Curve generates $500,000 daily at a price level of $0.438, while the last time it reached this income level the price was still above $6. The supply of crvUSD has reached a historical high of $500 million, making it the third largest stablecoin on Ethereum.
The protocol has an annual revenue of 150 million USD and a market capitalization of only 626 million USD. Each yield basis BTC purchase requires crvUSD.
After 6 days, the Fusaka upgrade will unlock a 3x gas limit, and this valuation gap won't last too long.