Curve Finance Notches Record-Breaking Trading Volumes of Nearly $35 Billion in the First Quarter of 2025

Trading volumes increased more than 13% from the first quarter of 2024, largely due to a surge in transactions, from around 1.8 million to some 5.5 million in Q1 2025, Curve said.

Decentralized lending protocol and exchange Curve Finance notched record-breaking trading volumes of nearly $35 billion in the first quarter of 2025, a spokesperson for the protocol told

The protocol's volumes rose more than 13% from the first quarter of 2024, largely due to a surge in transactions, from around 1.8 million in Q1 2024 to some 5.5 million in Q1 2025, Curve said.

The strong Q1 volumes come amid overall declines in the cryptocurrency market, with the total market capitalization of cryptocurrencies dropping by more than 20% in the year-to-date as of March 31, according to data from CoinGecko.

suggest that the TVL on Curve's platform is approximately $1.8 billion as of April 2, down from highs of roughly $2.5 billion at the start of the year.

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 BlackRock's 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

suggest that the TVL on Curve's platform is approximately $1.8 billion as of April 2, according to data from DefILlama,