Spot

Rise

Shopping

Curve Finance’s native token, CRV, saw a dramatic 30% price drop a week ago. The crash, which included the massive liquidation of Curve Finance CEO’s lending positions, left many investors concerned. Whales took advantage of Curve’s struggle and loaded their bags with millions of tokens. 
<h2 class="p1" id="whales-go-shopping-after-crv-dip">Whales Go Shopping After CRV Dip</h2> 
On June 13, CRV price saw a massive <a href="https://www.newsbtc.com/analysis/crv/curve-founder-faces-massive-blow-as-crv-price-dives-40-multi-million-dollar-liquidations/" target="_blank" rel="noopener ">drop</a> and a high liquidation risk that alarmed the crypto community. As a result, Curve Finance’s native token reached a negative milestone after dropping nearly 40%. The token went from hovering between the $0.35-$0.37 price range to its new all-time low (ATL) of $0.20. 
Since then, Curve Finance’s team has worked to solve the issues and stabilize the token’s price. Over the weekend, the token started its recovery, reclaiming the $0.30 support level. 
However, CRV’s price fell below the support zone as the new week started, retracing to the $0.27-$0.29 levels. Curve continued its <a href="https://www.newsbtc.com/altcoin/is-the-crv-painful-dip-over-this-event-in-august-could-spark-a-rally/" target="_blank" rel="noopener ">upward</a> trajectory on Tuesday afternoon, printing nine hourly green candles. 
Nearly a week later, the token has bounced over 40% from the drop. After momentarily rising above the $0.355 mark today, CRV is currently trading around the $0.33 range. 
Despite investors’ concerns, whales took the opportunity to snatch CRV at a discounted price. On-chain analytics firm Spot On Chain revealed that six whales accumulated over 50 million CRV during the dip. 
<img loading="lazy" decoding="async" class="size-large wp-image-625482" src="https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=860&amp;resize=860%2C528" alt="Crv" width="860" height="528" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=1784 1784w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=860&amp;resize=860%2C528 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3514.jpeg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
Per the report, the whales bought 55.26 million Curve tokens, worth around $19.4 million. 5 of the 6 wallets are first-time accumulators, which made the first-time purchases of the token surge this week. 
Since the price recovery, the <a href="https://www.newsbtc.com/news/blood-in-the-water-ethereum-whales-circle-as-price-drops/" target="_blank" rel="noopener ">whales</a> have made around 8%, or $1.43 million, in unrealized profit. The biggest gainer bought 4.34 million tokens at an average price of $0.288, representing a 21.84% ROI. 
<h2 class="p1" id="crypto-analysts-predict-rise-to-2">Crypto Analysts Predict Rise To $2</h2> 
Various market watchers have forecasted a bullish future for CRV’s price. As the price started to retest the $0.3 price range, crypto trader Follis <a href="https://x.com/follis_/status/1803214905949962700?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ" target="_blank" rel="noopener nofollow">suggested</a> that Curve Finance’s token would perform remarkably. 
The trader says the token will ” be one of the first alts to pull a 2x off the lows.” He highlighted that the token’s “-40% nuke” was linked to Michael Egorov’s liquidation event. Additionally, he pointed out that in 5 days, the token had recovered nearly 50% of its price. 
Crypto analyst CrediBull <a href="https://x.com/crediblecrypto/status/1802807826680549669?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ" target="_blank" rel="noopener nofollow">stated</a> that Curve Finance’s token has “already printed a clear 5 wave impulse.” To the analyst, this suggests that CRV is “structurally more bullish” than tokens like CVX. CrediBull forecasted a $2 target for the token based on this performance. 
Another trader <a href="https://x.com/sanchez_charts/status/1803233871510520212?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ" target="_blank" rel="noopener nofollow">shared</a> a similar opinion, stating that CRV is “looking good for some relief.” To Sanchez, the liquidation dip looked like the last leg down in a five-wave pattern. He believes the recent daily performance “should be good for a decent bounce.” 
<img loading="lazy" decoding="async" class="size-large wp-image-625478" src="https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=860&amp;resize=860%2C510" alt="CRV" width="860" height="510" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=1588 1588w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=860&amp;resize=860%2C510 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/IMG_3506.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1">

Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree

Obsah

NewsBTC

Ďalšie články zverejnené 20. 6. 2024

It’s ‘Do Or Die’ For Bitcoin Price Soon, Says Analyst

Investors Monitor Lista’s Listing on Binance

The Tapping Tale of Hamster Kombat: Crypto's Newest Gamified Craze - Is It Legit?

Pepe Pound (PEP) (Airdrop Launched) - Claim this Airdrop Now!

3 Low Priced Cryptos To Buy To Make $100 into $10000 In June

Unimaginable Gains Await Crypto Traders During Q3 – Q4 of 2024 According to Silver-Tongued Crypto...

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!