CRV needs this to stay on course as it approaches the new ATH
With signs of a market recovery, CRV is moving to new highs. The token leads the rally and is the third best performer in the past 24 hours. Right now, an investment can really generate a profit as the price heads towards a new all-time high.
CRV has risen sharply
The largest DeFi protocol, Curve, not only has a strong foothold in the decentralized area of application, but also creates a hype, especially in the spot market.
For the week, the altcoin is up 47.71% and is trading at $ 5.15 at press time. The last time such a rally took place was on November 22nd. and the price rose 54% in 3 days.
Right now, CRV is only about 14% away from creating a new ATH and the protocol is definitely backed by investors.
CRV price promotion | Source: TradingView
Although the broader market struggled through November and December, the Total Value (TVL) on the Curve protocol not only did not decrease, but increased 10% ($ 2 billion).
After the average coin age, CRV holders are still tenaciously HODLing – a bullish sign. The only recent delivery incident was on December 18, when investors expected a decline of 7.8% the following day.
Average age of coins | Source: Santiment
To avoid losses, investors sold 14.8 million CRV tokens. Of this, some whales sold over $ 236 million to CRV, and long-term owners (LTH) also spent over 4.8 billion days doing so.
CRV sales by LTH | Source: Santiment
In the future, CRV owners really want a constant rally as well as a new all time high to continue HODL and the low network speed is a testament to their mentality.
Curve grid speed | Source: Santiment
Fortunately for Curve, only 13% of all addresses lose, this percentage will also decrease as prices rise.
However, the volatility of 187% should also be taken into account as the price can move unexpectedly in any direction at any time.
Volatility | The source: In the block
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