06 Dec 2024 Morgan Hayze
Curve (CRV) Price Explodes And Reaches Over $1, What Will Happen Next?
After breaking through the $1 resistance, Curve Finance's native token, CRV, has once again hinted at the June 2024 events, when Curve's creator was facing liquidation.
Source: CoinMarketCap
In June, the founder made an over-the-counter (OTC) trade with Christian (@Christianeth) to liquidate a total of 30 million CRV tokens.
Estimates based on a batch delivery price of $0.28787 indicate that Christian's shares have produced a floating profit of nearly $24.33 million—a remarkable 291% return—even if the precise OTC price remains unknown. Christian has publicly declared that he has not sold his tokens, even though on-chain data shows that he has since deposited CRV into Binance.
Talks about wrapped variants of CRV, like $cvxCRV, have also been rekindled by the rally. Many investors turned their CRV into these wrapped tokens, which stand for long-term staked or locked assets, during the bad market. However, these wrapped tokens have indicated a sort of "decoupling" as the price of CRV has skyrocketed.
Some claim that the market's sensible difference between long-term fixed assets and the short-term speculative frenzy propelling the current surge is the reason for this gap, while others blame it on mispricing.
A change in market mood and a resurgence of interest in decentralized finance (DeFi) are highlighted by the price movement of CRV. Investors navigating this volatile yet potential sector continue to focus on CRV's future trajectory, as prominent stakeholders such as Christian hold significant positions and market dynamics change.
The performance of the coin may be a sign of more general patterns in liquidity management and the expansion of decentralized exchanges, since Curve remains a crucial component of DeFi. As of right now, CRV's ascent above $1 has confirmed its tenacity and promise in the quickly evolving cryptocurrency market.
The current Curve DAO Token short-term price forecast shows that by January 5, 2025, the price of Curve DAO Token may increase by 41.10% to reach $1.5165. The market sentiment is agressively bullish, according to the technical indicators, as the Fear & Greed Index is currently at 72 (Greed). Over the past month, the Curve DAO Token has had 22 out of 30 (73%) green days and 47.56% price volatility.
Curve DAO Token is expected to shake hands in a price range of $1.1103944 to $2.14 in 2025. CRV is anticipated to trade for $1.445184 on average throughout the course of the year. December, when the currency is expected to trade 90.18% higher than it is presently, may be the most positive month for CRV.
