Curve's trading volume nearly quadrupled to $831 million as crypto sold off
DefiLlama shows the stablecoin swap venue went from $215 million to $831 million in a day, while total DEX volume rose less than 3% and several big DEXs slowed. Its fees jumped about eightfold.
Key points
- Curve's DEX volume rose from $215.5 million to $831.1 million in DefiLlama's latest 24-hour window, up 286%.
- Curve's fees rose from $48,285 to $386,370, up 700%.
- Total DEX volume tracked by DefiLlama was $11.64 billion, up only 2.65%. Solana's Orca and Raydium both slowed.
What moved
A DEX (decentralized exchange) lets people swap tokens straight from their wallets, with no company in the middle. Curve is built mainly for swapping stablecoins and other tokens meant to trade at the same price, such as USDT for USDC.
On DefiLlama's DEX dashboard, read at 12:45 a.m. ET on November 6, Curve handled $831.1 million in the latest 24 hours, up from $215.5 million the day before. That is a 286% jump, on the day bitcoin fell from about $80,300 to near $76,000 (CoinGecko).
DEX volume, latest 24 hours vs the 24 hours before
US$ million
Source: DefiLlama DEX overview API, read November 6, 2026, 12:45 a.m. ET
Fees followed
More trading means more fees for the pools. DefiLlama's fees dashboard shows Curve earned $386,370 in the latest 24 hours, against $48,285 the day before, up 700%.
One more line stood out: DeFi Saver, a tool that automatically adjusts loans to protect them from liquidation (a forced sale when collateral falls too far), saw fees rise from $4,754 to $38,585, up 712%.
Everyone else was quiet
Across all DEXs, DefiLlama counted $11.64 billion in volume, only 2.65% more than the day before. Several large venues slowed: Orca and Raydium on Solana fell 4.7% and 14%, THORChain fell 19.6% and Pendle fell 75%, from $223.6 million to $55.3 million. The data does not show who traded on Curve or which pools were busiest.
The shift shows up in Curve's share of the total. Its $831.1 million was about 7.1% of all DEX volume in the latest 24 hours, against about 1.9% the day before (our math from DefiLlama's figures).
LC Insight analysis
This section is our reading of the facts above, not a statement of fact.
- We think the jump fits a sell-off pattern: people move between dollar tokens and pull back from riskier trades, and Curve is built for exactly those swaps.
- The DeFi Saver fee spike suggests many borrowers had automated loan protection kick in as prices fell.
- Total DEX volume barely moved, so this looks like a shift in where people traded, not a wave of new trading.
What's next
- Whether Curve volume falls back toward $200 million
- Stablecoin pool balances on Curve
- Lending liquidations if ether drops further
Disclaimer. This article is based on public information and the sources listed below as of the update time shown. It is for information only and is not investment, legal or tax advice. Figures may change as companies and authorities publish new data.
