Wednesday

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/curve-finance-users-relieved-as-crv-price-rises-15/">Curve Finance Users Relieved as CRV Price Rises 15%</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Intense fear gripped Curve Finance users in the past few days, causing temporary relief during the early Asian market on Wednesday as the CRV price gained about 15 percent, trading around $0.578. The DeFi token has been on a downward trend in recent weeks, but the rate of decline escalated on Monday following reports of a potential black swan event in the lending protocol. </p> 
<p>Notably, the founder of Curve Finance, Michael Egorov, took a loan of $60 million worth of USDT on the AAVE protocol and issued 300 million CRV tokens as collateral.</p> 
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   <p lang="en" dir="ltr">3/13 <br><br>He also has positions in Frax, Abracadabra, Inverse, Silo…<br><br>All in ~1.40 health rate. If they go to 1, they get liquidated.<br><br>Liquidation means = all collateral is sold at a discount to repay his debt, further dumping CRV prices.<br><br>Monitor his loan: <a href="https://t.co/2I0wXAhZnu" rel="noopener noreferrer nofollow">https://t.co/2I0wXAhZnu</a> <a href="https://t.co/0bEhCTh3yw" rel="noopener noreferrer nofollow">pic.twitter.com/0bEhCTh3yw</a></p>— olimpio (@OlimpioCrypto) <a href="https://twitter.com/OlimpioCrypto/status/1686129352495546368?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 31, 2023</a> 
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<p>The current concern is if the CRV price drops below 37 cents, triggering liquidation. In the current circumstances, AAVE faces challenges in finding liquidity for the 300 million CRV tokens, as the total CRV liquidity is no more than $4 million. Such a scenario could lead to a significant price dive as traders flee the DeFi lending protocol, and liquidity providers remove their funds.</p> 
<h2 id="crv-price-action" data-name="crv-price-action" class="wp-block-heading">CRV Price Action</h2> 
<p>A closer look at CRV’s price action and on-chain analysis reveals heightened activity on the Curve Protocol due to several stable CRV pools being compromised on Vyper. The trading volume for CRV surged by 10 percent in the past 24 hours, reaching approximately $372 million, which is close to its market cap of around $515 million. However, with CRV down over 20 percent since the beginning of August, it must continue to climb to prevent a black swan event in the DeFi lending market.</p> 
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   <p lang="en" dir="ltr">Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an <a href="https://twitter.com/stusdt?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@stusdt</a> pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentralized finance!</p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1686308662363697152?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 1, 2023</a> 
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<p>In response to the potential catastrophic collapse of Curve Finance, crypto whales, including Tron founder Justin Sun, have stepped in to provide support.</p> 
<p>As the situation continues to evolve, the DeFi community closely monitors developments and hopes for measures to stabilize CRV’s price and ensure the lending protocol’s resilience in the face of uncertainty.</p>

Curve Finance Users Relieved as CRV Price Rises 15%

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