Curve’s daily trading volume fell to $424.96 million on Oct. 30 UTC, down from $847.44 million a day earlier. That is a near 50% drop, according to DefiLlama’s daily series. The lower number still stands well above the prior week. The Defiant calculated a seven-day median of $97.69 million for Oct. 23 to Oct. 29, so Wednesday’s turnover was about 335% higher than that baseline. So this was a cool-down, not a return to quiet conditions.
Volume drops from Tuesday’s high
The pool-level numbers show where much of the change came from. Curve’s 3pool, the stablecoin pool for DAI, USDC and USDT on Ethereum, handled $82.14 million on Oct. 30 UTC. A day earlier, it processed $343.36 million. That is a sharp fall. The overall chain-level figure was $420.72 million, close to DefiLlama’s total. The two readings are not independent because DefiLlama’s adapter uses Curve’s API, so they should be read together, not as separate checks.
3pool shifts away from USDT
Snapshots taken just before the day began and near its close show a partial reversal of the USDT tilt reported a day earlier. USDT balances in 3pool fell from 121.15 million tokens to 112.93 million. DAI rose from 20.61 million to 24.25 million, and USDC increased from 20.10 million to 24.56 million. By The Defiant’s calculation, USDT’s share of nominal balances dropped from 74.8% to 69.8%. That eases concentration, though it does not remove it. These are pool composition snapshots, not proof of trader motives or evidence that any stablecoin lost its peg.
Ethereum still carries most activity
Ethereum accounted for $414.40 million of Curve’s reported volume that day. Base followed with $2.67 million. Curve also records liquidity-related volume separately from trading turnover, so the headline number is not the whole story. For liquidity providers, the main takeaway is simpler: 3pool became less USDT-heavy, but USDT still held the largest share. The volume drop looks large against Tuesday, yet it remains high against the prior week. Perhaps that is the more useful context.
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