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- Curve the second largest exchange on Ethereum has released a stable coin white paper in the past month
- Technical Indicators of CRV suggests a consolidated trend in price. CRV/BTC pair has seen a fall of more than 3% in the intraday session
Curve Dao is a decentralized autonomous organization (DAO) built on the Ethereum blockchain. It was created to offer low-cost and efficient trading of stablecoins, which are cryptocurrencies that are pegged to the value of a fiat currency or commodity. The main feature of Curve Dao is its liquidity pool, which allows users to trade stablecoins without having to go through traditional exchanges. By using smart contracts, the liquidity pool automatically matches buyers and sellers, making the process of trading stablecoins much faster and cheaper.One of the benefits of using Curve Dao is that it has low trading fees, which makes it appealing to traders who want to minimize their costs. In addition, the liquidity pool is constantly monitored and managed by a group of trusted parties, ensuring that it is secure and transparent.
Curve Dao is currently ranked 88th in crypto verse and has a strong market dominance.Volume of the CRV has seen a gain more than 49% in the intraday session
Bears Are Pushing CRV Price Down
The weekly technical chart of the Curve Dao suggests a consolidated trend in price. On coming to the daily chart the asset price is trading near $0.530 and has seen a loss of 2.95% in intraday session. Resistance of CRV can be seen near $0.8. The support of the Curve Dao can be seen near $0.23. The asset price is currently trading below 50 and 100 Daily Moving Average. There can be a negative crossover which can push the asset price below
Conclusion
Curve Dao has released a white paper regarding their stablecoin.CRV coin price is currently in a consolidated trend but can soon see a new high in the future.
Technical Levels
Major Support:$0.3
Major Resistance:$0.8
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
