A widely followed analyst is bullish on a decentralized finance (DeFi) token built in the Ethereum (ETH) ecosystem.
The pseudonymous analyst known as CredibleCrypto tells his 449,900 followers on social media platform X that his “highest conviction” bet based on risk-reward is Curve DAO (CRV).
According to CredibleCrypto, CRV could increase by at least 722% from the current level.
CRV is trading at $0.852 at the time of writing, up more than 70% in the last 30 days.
The widely followed analyst says his bullish thesis for CRV is supported by the tokenomics of the DeFi altcoin in addition to technical analysis.
“You have a coin whose issuance structure is literally modeled on Bitcoin (BTC), but:
– has more than 40% of the supply essentially blocked in perpetuity
– generates real yield from functional products which is paid to token lockers several times per month
– currently has the highest development activity + number of developers ever working on the protocol in its history despite the depressed price.
According to CredibleCrypto, Curve DAO has an advantage over Bitcoin in that unlike BTC, long-term holders of CRV cannot dump during bear markets and worsen price declines or take profits during bull markets and reduce price appreciation.
“…with CRV, token lockers literally cannot sell at pumps OR dumps because their tokens are locked (in most cases) for a minimum of 3.5-4 years.”
The pseudonymous analyst further says:
“Overall, aside from the clear techniques and chart setup, CRV, fundamentally, has all the hallmarks of the next big thing in this field which I think most are sleeping on due to either a lack of understanding mechanisms behind the project, or because of regurgitated and outdated fear, uncertainty and doubt (FUD) that spread about the token during the last market downturn.
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