Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,198,455,039,649	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,198,455,039,649

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	257.40	0.42%	61,070.11	61,070.11	61,070.12

Price Change

Price Change %

Current Price

Bid Price

Offer

257.40

0.42%

61,070.11

61,070.12

High Price	Low Price	Open Price	Prev. Close	52 Week Range
61,244.00	60,720.05	60,810.93	60,812.80	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

61,244.00

60,720.05

60,810.93

60,812.80

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	05:18:03	0.018010	61,071.99	USD

Exchange

Last Trade

Size

Trade Price

Currency

GEMN

05:18:03

0.018010

61,071.99

USD

Price x Volume	Volume	Base Symbol	Related Pairs
106,524,303.57	1,747.41	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

106,524,303.57

1,747.41

Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree

20/06/2024 1:00am

NEWSBTC

Curve Finance’s native token, CRV, saw a dramatic 30% price drop a week ago. The crash, which included the massive liquidation of Curve Finance CEO’s lending positions, left many investors concerned. Whales took advantage of Curve’s struggle and loaded their bags with millions of tokens. Related Reading: Trump-Inspired Memecoins Crash 30% After Rumors Of Trump’s Official Token Launch Whales Go Shopping After CRV Dip On June 13, CRV price saw a massive drop and a high liquidation risk that alarmed the crypto community. As a result, Curve Finance’s native token reached a negative milestone after dropping nearly 40%. The token went from hovering between the $0.35-$0.37 price range to its new all-time low (ATL) of $0.20. Since then, Curve Finance’s team has worked to solve the issues and stabilize the token’s price. Over the weekend, the token started its recovery, reclaiming the $0.30 support level. However, CRV’s price fell below the support zone as the new week started, retracing to the $0.27-$0.29 levels. Curve continued its upward trajectory on Tuesday afternoon, printing nine hourly green candles. Nearly a week later, the token has bounced over 40% from the drop. After momentarily rising above the $0.355 mark today, CRV is currently trading around the $0.33 range. Despite investors’ concerns, whales took the opportunity to snatch CRV at a discounted price. On-chain analytics firm Spot On Chain revealed that six whales accumulated over 50 million CRV during the dip. Per the report, the whales bought 55.26 million Curve tokens, worth around $19.4 million. 5 of the 6 wallets are first-time accumulators, which made the first-time purchases of the token surge this week. Since the price recovery, the whales have made around 8%, or $1.43 million, in unrealized profit. The biggest gainer bought 4.34 million tokens at an average price of $0.288, representing a 21.84% ROI. Crypto Analysts Predict Rise To $2 Various market watchers have forecasted a bullish future for CRV’s price. As the price started to retest the $0.3 price range, crypto trader Follis suggested that Curve Finance’s token would perform remarkably. The trader says the token will ” be one of the first alts to pull a 2x off the lows.” He highlighted that the token’s “-40% nuke” was linked to Michael Egorov’s liquidation event. Additionally, he pointed out that in 5 days, the token had recovered nearly 50% of its price. Crypto analyst CrediBull stated that Curve Finance’s token has “already printed a clear 5 wave impulse.” To the analyst, this suggests that CRV is “structurally more bullish” than tokens like CVX. CrediBull forecasted a $2 target for the token based on this performance. Related Reading: ZkSync (ZK) Drops 20% Amid Binance Listing And New Token Distribution Program Another trader shared a similar opinion, stating that CRV is “looking good for some relief.” To Sanchez, the liquidation dip looked like the last leg down in a five-wave pattern. He believes the recent daily performance “should be good for a decent bounce.” Featured Image from Unsplash.com, Chart from TradingView.com

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