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Highlights
- Curve is primarily a DEX for stablecoins, which uses an AMM to ensure liquidity.
- The 88-ranked CRV token was up 9.88% on Tuesday and was trading at US $1.28 with a trading volume of US $33,85,29,350, according to CoinMarketCap.
It’s been a change of fortunes for Curve Dao (CRV) crypto. The token that suffered the wrath of the Terra collapse along with the bearish crypto winter phase has struggling up to a month back. But in the past 30 days or so, it has managed to spark a comeback registering gains of close to 117%, according to CoinGecko.
Curve is primarily a DEX for stablecoins, which uses an AMM to ensure liquidity. Curve had launched its DAO in August 2020 and is powered by Ethereum blockchain that uses multiple smart contracts and connects to multiple exchanges to offer the best possible rates.
One of the unique benefits of the CRV protocol is that it offers seamless swap facility to other cryptos such as DAI. CRV crypto offers lower slippage rates and cost-effective fees in order to ensure that users can get better returns with best interest rates.
Why is CRV token rising?
Although the exact reason for its rally is still unclear, but on 18 July it was added on Firstrade Securities - Online investment brokerage. Firstrade’s platform offers the users the feature of interoperability between all available products and investment types. This allows them to gain exposure to other asset classes with as little as US$1.
The news seems to have buoyed the market participants as well as it saw its RSI zoom to 63.68 during the intraday trading session.
Image credit: Trading View
The ADX saw an upward swing with the directions indicating a movement upwards, assuming this continues.
The MACD line reflects ADX view with the signal line well below the MACD line. However, the momentum is not that strong to indicate a massive rally, but enough to keep the market participants interested.
How is CRV Price faring?
The 88-ranked CRV token was up 9.88% on Tuesday and was trading at US $1.28 with a trading volume of US $33,85,29,350, according to CoinMarketCap. The token enjoyed a live a live market cap of US $68,64,12,837 and 45,77,48,938 CRV coins in circulation.
CRV’s good market performance seem to also have a positive effect on its volume as well. The volume was up by 85.54 on 19 July, when this report was written.
But while the CRV has seen an upswing, it’s also important to note that amid the current volatility, it is best to tread carefully to ensure that one doesn’t chase wild dreams based on mere speculation. In a speculative market such as cryptos, it’s best to go ahead with proper market research.
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