A prominent analyst sets a big price target for a DEX coin, as interest in DeFi is growing again.

Analyst, nicknamed Credible Crypto, told his 285,600 Twitter followers that after a successful listing on Convex Finance (CVX) in August, he was ready to raise more Curve DAO Tokens (CRV) before there was a similar upward move.

Credible to speak:

“It took CVX about four months to grow 10x. Now it’s time for CRV x10.

My initial entry is under $ 3, buying more from $ 3 to $ 4, and as I’ve said many times before, aim for at least $ 40 by the end of the cycle.

Let’s take this opportunity. “

In tweets In its first release on August 18, the analyst said “the world is forgetting about CVX”.

The altcoin made an impressive move recently, rising from under $ 4 in early August to an all-time high of over $ 49 last Thursday.

At the time of writing, CVX is up 4% to $ 47.78 after a weekend correction.

CVX / USDT daily chart | Source: TradingView

Convex Finance is a DeFi protocol that builds on Curve Finance, using the native CVX token for staking, liquidity mining and voting.

Following the recent correction, the analyst says the CRV has hit the short-term buy zone.

Hit On Target ???? Great place to buy the dip for those looking to top up their long term inventory. $ CRV https://t.co/V1iOKXb7FR pic.twitter.com/E4tRirZvXB

– Credible Crypto (@CredibleCrypto) December 28, 2021

“Target Hit ???? Great place to buy the dip if you want to add to your long-term inventory. $ CRV “.

According to DeFi Llama, Curve ranks first among all projects related to Total Value Locked (TVL) with $ 23.46 billion. Convex Finance ranks second with $ 19.34 billion in locked assets.

The DeFi Protocol’s TVL represents the total capital held in its smart contracts. TVL is calculated by multiplying the amount of collateral locked on the network by the current price of the asset.

Source: DeFi Lama

CRV price is down 6.39% to $ 4.8 at press time. The altcoin hit a monthly high of $ 5.85 on Friday after seeing a massive 76% surge from $ 3.32 in less than two weeks.

You can see the CRV prices here.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page