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Curve / US Dollars (CRVUSDT) Token Analysis 11/09/2023Fundamental analysis: Curve functions as a decentralized exchange specializing in stablecoins, employing an automated market maker (AMM) to oversee liquidity management. Its journey began in January 2020, and Curve has since become closely associated with the decentralized finance (DeFi) movement, experiencing substantial growth in the latter part of 2020. In August, Curve introduced a decentralized autonomous organization (DAO) featuring CRV as its native token. This DAO leverages the Ethereum-based creation tool, Aragon, to establish connections among various smart contracts responsible for handling users' deposited liquidity. It's worth noting that governance within this DAO differs in terms of its weighting and other key aspects compared to Aragon. Curve has garnered significant attention by fulfilling its role as an Automated Market Maker (AMM) specifically designed for stablecoin trading. The introduction of the DAO and CRV token has added to its profitability, as CRV serves a governance function and is distributed to users based on their level of liquidity commitment and the duration of their ownership. The surge in DeFi trading has solidified Curve's position in the industry, as AMMs continue to handle substantial amounts of liquidity, leading to increased user profits. Consequently, Curve caters to a broad spectrum of DeFi participants, including those engaged in yield farming and liquidity mining, as well as individuals seeking to optimize returns while holding relatively stable and non-volatile stablecoins. The platform generates revenue by imposing a modest fee, which is then rewarded to liquidity providers. Curve entails the typical risks associated with depositing funds into smart contracts and engaging with Automated Market Makers (AMMs), primarily the risk of impermanent loss. Given that Curve exclusively deals with stablecoins, the likelihood of rapid market fluctuations is diminished. However, users may still experience losses when markets undergo rebalancing to align with cross-market price adjustments. While Curve has undergone audits, it's essential to recognize that these audits do not eliminate the inherent risks associated with exposure to a particular cryptocurrency. Curve (CRV) made its debut in August 2020, coinciding with the launch of the Curve DAO. Its primary role is to serve as a governance mechanism, provide incentives, facilitate fee payments, and offer a means for long-term earnings to liquidity providers. The total supply of CRV tokens amounts to 3.03 billion, with the majority (62%) allocated to liquidity providers. The remaining tokens are distributed as follows: 30% to shareholders, 3% to employees, and 5% to a community reserve. It's important to note that both shareholder and employee allocations are subject to a two-year vesting schedule. CRV did not undergo a premine, and the gradual unlocking of tokens indicates that approximately 750 million tokens should be in circulation one year after the initial launch. The founder and CEO of Curve is Michael Egorov, a Russian scientist with diverse experience in cryptocurrency-related ventures. In 2015, he co-founded NuCypher, where he assumed the role of CTO. NuCypher is a cryptocurrency company focused on developing privacy-preserving infrastructure and protocols. Egorov is also the brain behind LoanCoin, a decentralized bank and loans network. Curve's core team is integrated into the CRV allocation structure, entitling them to receive tokens over a two-year vesting period as per the initial launch plan. In August 2020, Egorov acknowledged that he had "overreacted" by locking up a significant number of CRV tokens in response to yearn.finance's voting power, resulting in him obtaining 71% of governance control in the process. Technical Analysis: As we observe, the price is currently trading within a range bounded by the Fibonacci retracement levels of 78.6% and 95%. Notably, there is a potential support level at $0.15. For the anticipated bullish cycles, we have established three potential price targets: First Target Price (1TP): $6.75 Second Target Price (2TP): $8.5 Third Target Price (3TP): $11 It's worth noting that there are multiple resistance levels marked on the chart, corresponding to the Fibonacci retracement levels. Sentiment Analysis: Considering the possibility of depreciation in the total market capitalization of cryptocurrencies and the price of Bitcoin (BTC) in the upcoming months, it is reasonable to consider employing a Dollar Cost Averaging (DCA) strategy for long positions at the specified support levels and current Price.
Long
by BitonGroup
Curve DAO Token CRV price has a chance for another leap upToday we will take a look at the CRVUSDT trading pair. Our attention was drawn to the fact that during yesterday's market decline, CRV buyers kept the price above the strong mirror level of $0.95-1. As you can see from the trading history of CRVUSDT, this zone has often played the role of critical support and resistance levels. In general, the growth of the CRVUSD price in January 2023 was x2. If buyers of Curve DAO token manage to keep the price above the liquidity zone of $0.90-1 in the coming days, there is a good prospect of another +50% growth to the range of $1.35-1.50 An additional fact that Curve Finance has prospects can be evidenced by the Top of protocols with assets placed and blocked in them (TVL) (at the time of writing this idea): 1. Lido Finance ~ $8.0 billion, 2. MakerDAO ~ $7.0 billion, 3. Curve ~ $4.75 billion. 4. AAVE ~ $4.5 billion 5. Convex Finance ~ $4 billion 6. Uniswap ~ $3.8 billion 7. JustLend ~ $3.6 billion 8. PancakeSwap ~ $2.5 billion _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
45
Curve DAO (CRV) formed bullish Gartley move for upto 19% pumpHi dear friends, hope you are well, and welcome to the new update on Curve DAO Token ( CRV ) with Bitcoin pair. Previously after hardly reaching the sell target zone, the priceline dropped down. This time on a 4-hr time frame, CRV has formed a bullish Gartley pattern. At the moment, after the completion of final leg the priceline has slightly moved up, therefore, we can wait for some correction to buy it from the buying zone. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
1