Curve (CRV): Investors in Confusion Should Scrutinize This Data

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Curve Finance’s present outlook in decentralized finance (DeFi) might have worried investors. That’s because the DEX (Decentralized Exchange) experienced a massive hit within the past seven days in TVL (total value locked).

DeFi analytics network, DeFiLlama, stated that the altcoin saw declines in total value locked. And that forced CVR to decrease by 7.05%.

However, the alt’s slump wasn’t terrible compared to the likes of Uniswap and Lido Finance. Furthermore, CVR had gained 3.24% within the past day even as the overall crypto market remained low.

Parts to Watch

The Latest Dune Analytics report encouraged Curve investors to watch some events. The data shows that CRV has had an impressive performance in average volume share in the DeFi liquidity protocol. Moreover, Dune Analytics showed that the CRV volume pool declined convincingly from the May 13 high.

While publishing this post, volume share stood at 19.5%. However, the stable coin’s average volume remained attractive with a 46.7% share. Meanwhile, the average daily decentralized exchange volume hovered at $2.46B.

Also, investors should consider the Curve emissions (Dune Analytics). It indicated the distribution of the incentive noted a 15.90% drop. That generates increased revenue for LP (liquidity pools), ensuring enough liquidity for traders.

Though the volume pool stat might go against investor expectations, some relief emerges from the emission data. Moreover, investors should consider the user metric.

While publishing this post, CRV maintained a surging retention rate after utilizing 17.6% between June 6 and 12. Meanwhile, how has the data impacted CRV’s on-chain status?

Careful Still

Considering the price momentum, investors might still need to contemplate their excitement following the latest uptick. That’s because two leading indicators showed downside possibilities in the tokens price.

First and foremost, the RSI revealed a bearish stance, reading 32.00. The MACD (Moving Average Convergence Divergence) stayed beneath the histogram midlevel as selling pressure also hovered beyond the buyer momentum.

Bears have been relentless in the recent assault, triggering continued declines in the crypto market. Bitcoin has seen extended lows after failing to overpower $25K. While publishing this post, BTC changed hands at $21,212, attempting to steady after a recent downward spree.

Editorial credit: FellowNeko / shutterstock.com


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