{"id":625081,"date":"2024-06-18T01:00:58","date_gmt":"2024-06-18T01:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=625081"},"modified":"2024-06-17T16:18:55","modified_gmt":"2024-06-17T16:18:55","slug":"is-the-crv-painful-dip-over-this-event-in-august-could-spark-a-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/altcoin\/is-the-crv-painful-dip-over-this-event-in-august-could-spark-a-rally\/","title":{"rendered":"Is The CRV Painful Dip Over? This Event In August Could Spark A Rally"},"content":{"rendered":"

CRV, the native token of the stablecoin decentralized exchange Curve Finance, has been dumping in over the last year or so. After last week’s plunge, the token fell by as much as 75% from March 2024 highs, a huge concern for token holders.<\/span><\/p>\n

CRV Recovers, Adds 45% After Plunging <\/span><\/h2>\n

However, according to one analyst who took to X, the bottom could be in, <\/span>arguing<\/span><\/a> that favorable fundamental events in roughly two months could propel the token to as high as $2. CRV is changing hands at around $0.32, up 42% from last week’s lows.<\/span><\/p>\n

\"CRV<\/a>
CRV price trending upward on the daily chart | Source: CRVUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

 <\/p>\n

Most importantly, prices are stabilizing, with the impressive follow-through of June 13. After the flash crash that day, prices fell to as low as $0.22.<\/span><\/p>\n

Related Reading: Metrics Signal Bitcoin Price Increase \u2013 But When Is Anyone\u2019s Guess<\/a><\/div>\n

However, what was encouraging was the long lower wick, pointing to welcomed demand by the close of the trading day. This push was clear the next day when prices closed higher, with bulls extending gains over the weekend. <\/span><\/p>\n

Whether the June 13 plunge marked the end of CRV woes<\/a> remains to be seen. For now, the sharp 45% recovery from last week’s lows and the expansion in Ethereum prices could create demand, further propelling CRV to the $0.40 mark.<\/span><\/p>\n

Curve To Change Token Emission As Erogov’s Bad Debt Cleared<\/span><\/h2>\n

The analyst thinks something big is in the pipeline for Curve Finance as a protocol and CRV as the primary token priming platform. In mid-August, the token’s inflation rate would fall from 20.37% to as low as 6.34%. This reduction would be primarily because of the protocol’s shift to CRV distribution. <\/span><\/p>\n

From August 12, Curve will automatically cease allocating CRV to the core team for vesting. Instead, gauges will distribute the token directly to the community, drastically slashing inflation. <\/span><\/p>\n

Curve gauges determine how CRV is distributed to various liquidity pools. Through gauges, Curve Finance remains decentralized. This is because token holders can now vote on how much the liquidity providers of a given pool can receive CRV as an incentive.<\/span><\/p>\n

Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump?<\/a><\/div>\n

Besides the shift in CRV distribution, the liquidation of Michael Egorov’s position <\/span>eliminates<\/span><\/a> the issue of bad debt. Accordingly, Curve can not generate real revenue for CRV holders, drawing value. <\/span><\/p>\n

\"Curve
Curve Finance TVL | Source: DeFillama<\/figcaption><\/figure>\n

According to the analyst, Curve could evolve to be a leading decentralized Forex market over the coming years. The protocol is one of the largest decentralized finance (DeFi) platforms. According to DeFiLlama, it commands<\/a> a total value locked of over $2.2 billion.<\/span><\/p>\n

Feature image from DALLE, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

CRV, the native token of the stablecoin decentralized exchange Curve Finance, has been dumping in over the last year or so. After last week’s plunge, the token fell by as much as 75% from March 2024 highs, a huge concern for token holders. CRV Recovers, Adds 45% After Plunging However, according to one analyst who took to X, the bottom could be in, arguing that favorable fundamental events in roughly two months could propel the token to as high as $2. CRV is changing hands at around $0.32, up 42% from last week’s lows.   Most importantly, prices are stabilizing, with the impressive follow-through of June 13. After the flash crash that day, prices fell to as low as $0.22. Related Reading: Metrics Signal Bitcoin Price Increase \u2013 But When Is Anyone\u2019s Guess However, what was encouraging was the long lower wick, pointing to welcomed demand by the close of the trading day. This push was clear the next day when prices closed higher, with bulls extending gains over the weekend. Whether the June 13 plunge marked the end of CRV woes remains to be seen. For now, the sharp 45% recovery from last week’s lows and the expansion in Ethereum prices could create demand, further propelling CRV to the $0.40 mark. Curve To Change Token Emission As Erogov’s Bad Debt Cleared The analyst thinks something big is in the pipeline for Curve Finance as a protocol and CRV as the primary token priming platform. In mid-August, the token’s inflation rate would fall from 20.37% to as low as 6.34%. This reduction would be primarily because of the protocol’s shift to CRV distribution. From August 12, Curve will automatically cease allocating CRV to the core team for vesting. Instead, gauges will distribute the token directly to the community, drastically slashing inflation. Curve gauges determine how CRV is distributed to various liquidity pools. Through gauges, Curve Finance remains decentralized. This is because token holders can now vote on how much the liquidity providers of a given pool can receive CRV as an incentive. Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump? Besides the shift in CRV distribution, the liquidation of Michael Egorov’s position eliminates the issue of bad debt. Accordingly, Curve can not generate real revenue for CRV holders, drawing value. According to the analyst, Curve could evolve to be a leading decentralized Forex market over the coming years. The protocol is one of the largest decentralized finance (DeFi) platforms. According to DeFiLlama, it commands a total value locked of over $2.2 billion. Feature image from DALLE, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":611887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876],"tags":[83432,87517,86416,83460,89367,54512],"class_list":["post-625081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-crv","tag-crv-price","tag-crvusdt","tag-curve-finance","tag-curve-price","tag-defi"],"acf":[],"yoast_head":"\nIs The CRV Painful Dip Over? 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is The CRV Painful Dip Over? 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