In the aftermath of Curve\u2019s reentrancy exploit of July 30, 3pool, one of the decentralized exchange’s (DEX) prominent liquidity pools, continue to experience capital flight, research firm Kaiko noted in a recent <\/span>report<\/span><\/a>.<\/span><\/p>\n According to Kaiko, Curve\u2019s 3pool represents one of its \u201cmost important sources of liquidity for DAI, USDC, and USDT\u201d and has seen $175 million since the hack. <\/span><\/p>\n USDC has seen the most outflows of all the three stablecoins that make up the currency reserves in the pool. Since the exploit, liquidity providers have removed USDC coins worth $125 million from 3pool. DAI comes in second place with outflows that totaled $60 million, \u201c$25mn of which came in just three transactions on July 31,\u201d the report stated.<\/span><\/p>\n Regarding Tether\u2019s USDT, Kaiko found that it has remained roughly even in the Curve 3pool, despite the increased removal of the other stablecoins.<\/span><\/p>\n According to Kaiko, this suggests that investors are becoming more skittish about USDT. This is because USDT makes up a disproportionate amount of the pool, so a run on USDT could cause the pool to depeg.<\/span><\/p>\n The fact that users are incentivized to remove USDT from the Curve 3pool is a sign that they are worried about the stability of USDT. This could lead to further outflows from the pool, which could put downward pressure on the price of USDT.<\/span><\/p>\n The total currency reserves in Curve’s 3pool at press time was $3 million. USDT accounted for the largest share of the reserves, with $1.43 million, or 48.20%. USDC was the second-largest reserve, with $423,654, or 14.25%. DAI was the third-largest reserve, with $1.11 million, or 38%.<\/span><\/p>\n At press time, CRV exchanged hands at $0.5597. According to <\/span>CoinMarketCap<\/span><\/a>, the altcoin\u2019s value has plummeted by 32% in the last month. <\/span><\/p>\n Amid the fear of a complete liquidation of Michael Egorov\u2019s collateral on Aave following the hack, the count of transactions involving CRV has dropped since 30 July. According to Santiment, the count of daily active addresses that trade CRV has declined by 94% since the hack. <\/span><\/p>\n![\"\"](\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/image-6.png.webp\" "\\"\\"")
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CRV continues to dwindle amid increased sell-offs<\/b><\/h3>\n
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