CurveDAO Price Up by 16.27% – Time to Buy CRV Coin?
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The crypto market is recovering as the total market cap stands at $2.28 trillion, up 1.45% in the last 24 hours. CurveDAO is also picking up momentum as the asset advances in price, motivating investors to buy CRV.
Curve Finance is a decentralised exchange (DEX) with a decentralised autonomous organisation (DAO). The asset utilises the Ethereum-based smart contracts to connect multiple smart contracts used for users’ deposited liquidity.
Curve aims to create deep on-chain liquidity for digital assets using advanced bonding curves. With so much interest in the decentralised finance (DeFi) ecosystem, Curve DAO has become a major destination for DeFi users.
To determine if this is a great time to buy CRV, we will be reviewing the protocol’s technical and fundamental performances.
CRV Gaining Momentum
The Curve Finance utility token is making moves to go on the long-awaited bull run as the entire market makes price corrections.
The ERC-20 asset is trading at $4.98, a 16.27% increase in the last 24 hours. CRV currently dominates 0.09% of the entire crypto market and is ranked as the 64th most valuable crypto asset by market cap.
CRV has a market valuation of $2.1 billion and has seen a 12.73% increase in the last 24 hours. The 24-hour trading volume confirms the asset’s price improvement as the ERC-20 token is up 28.66%, having traded $631 million in the past day.
The long-term statistics of the Curve utility token shows that CRV has made a 243.54% increase in the last month and made five times the increase in the last twelve months, up to 1077.86%.
The year-to-date (YTD) also depicts a 689% increase, encouraging investors to buy CRV. CurveDAO seems to be moving on an uptrend as the crypto market regains lost ground.
CRV Technical and Fundamental Analysis
The 20-day moving average (MA) support price of $3.96 is dangling below CRV’s current price, which confirms the digital token’s bullish trend. The 200-day MA price of $2.79 indicates that CurveDAO is steadily appreciating and setting new resistance and support prices.
The Relative Strength Index (RSI) shows that the digital asset is trading in the underbought region with a figure of 60.74. At the same time, the moving average convergence and divergence (MACD) indicator reflect a strong buy signal, with the green trend line making its way ahead of the orange counterpart.
Curve Finance is making major advancements in its blockchain, and this fundamental improvement is a major confidence booster for investors looking to buy CRV.
Curve Finance has launched a merger between the xDai chain and the Gnosis Chain. xDai is a stable token used for transactions, payments, and fees.
The Gnosis chain is a regular payment EVM (Ethereum Virtual Machine) designed for fast and affordable transactions. The Merger is designed not to affect the functionality of the underlying chains but promises to onboard new project migrations, integrations, applications and provide a mature toolset for developers in the ecosystem.
Curve Finance is sure to reap substantial benefits in its price in the following weeks as the xDai and Gnosis ecosystem takes off.
Ren protocol has launched Host 2 Host on the mainnet, allowing CRV to be bridged to all other blockchains. Ren protocol is open-source software built to provide interoperability and liquidity between different blockchains in the crypto ecosystem.
The launch will enable users to move deposits across chains at cheaper rates. Host 2 Host opens up Curve Finance’s Liquidity Pool (LP) tokens to new cross-chain collateral types. ERC-20 tokens such as CRV now have wrapped counterparts on all blockchains. The launch is set to help CRV prices skyrocket in the coming weeks.
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