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- 1 The TVL of crvUSD has seen a slight surge and is currently near $10.172 Million
- 2 CRV technical indicators are favoring a downside trend in price.It has seen a gain of 0.3% in the intraday session
Curve Dao is a cryptocurrency that has gained significant attention among investors. It is a DeX for stablecoin which uses AMMs to maintain its liquidity. It aims to revolutionize the Defi sector by providing low-cost liquidity for stablecoins. The ecosystem uses Ethereum based system Aargon to connect to multiple smart contracts. Curve Stable coin infrastructure enables users to mint crvUSD. The maximum total supply of crvUSD is around 20,000,000. The number of USDCs in the USDC/cRVusd pool is around $2304040. Meanwhile, the USDT in USDT/crvUSD is $2046023 which as per Dune Analytics.
The founder and CEO of Curve is a Russian Scientist, Michael Egorov. It has gained considerable attention by being the biggest AMM for a stablecoin. Curve Dao also focuses on maintaining the tight peg of the Dollar with the underlying stablecoin. The curve can see strong adoption in the near future.
The curve has a market cap of $698 Million and is ranked 63rd in the CMC. The volume of asset prices has seen a slight drop in the intraday session. The v/m ratio of CRV suggests a consolidated trend in price.
Will CRV Price a New High Soon?
The weekly technical chart of Curve Dao suggests a consolidated trend in price. On the daily chart, it is trading in a strong consolidated range.CRV is currently trading near the value of $0.85336 with a small drop in the intraday session. The upside trend of CRV can see a halt near the value of $1.Meanwhile, the downside trend of Curve can see a bounceback from $0.6.It is trading below the 50 and 100 Exponential Averages.There can be a negative crossover in the future which can push the price down.
The RSI of CRV is near 49 suggesting its presence in the neutral zone. There is no slope inside it hinting towards a bearish trend in price.
Summary
Curve Dao has gained significant attention among investors. Crv price is currently observing a consolidated trend but can see a new high in the future.
Technical Levels
Major Support:$0.6
Major Resistance:$1
meta:Curve Dao is a cryptocurrency that has gained significant attention among investors.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
