- The CRV recorded a steep drop in the last day, mainly driven by merchants of decentralized stock market (DEX) and long -term stock market activities.
- $ 3.32 million in CRV moved to private portfolios, echoing the previous models of whale accumulation.
In the past 24 hours, CURVE DAO (CRV) remained at the downward end of the market, with a drop of 9.43%, extending its sequence of defeats for one month to 11.3%.
Despite this drop, some market cohorts resist the fall, betting on the long -term price movement.
Spot Dex merchants are betting on a drop
Market analysis in the past 24 hours has revealed that most sellers are dex spot and long -term merchants.
In this spirit, the Dex Spot traders have become more active while the price continues to fall.
According to Artemis, around 300 merchants paid $ 26,000 to leave or short-circuit their positions on curve.
Source: Artemis
This sales pressure is also reflected in the derivative market, where this group has started to place short bets.
The rate of funded funded by the CRV OI has overturned negative, indicating that shorts have dominated.
This metric mixes the interest and funding rates open to reveal which side maintains the lever effect, and the inclination now promotes bears.
Source: Coringlass
If this metric is entirely transformed into a negative territory, it will confirm that this group of traders in the long term is increasingly downward, potentially intensifying the sale pressure.
Long -term traders keep the price intact
There is a torsion – Crypto’s analysis suggests that the drop in prices could have been worse if certain cohorts did not accumulate and did not lock their long -term assets.
Market data show a significant influx of liquidity in the DAO curve.
At the time of the press, the total locked value (TVL) jumped by more than $ 100 million, going from $ 1.6 billion to $ 1.7 billion.
Source: Artemis
This substantial increase suggests that investors exceed more CRV in the protocol and lock it for a long -term perspective.
Another increase in increased interest among participants is the accumulation of the cash market.
In the last 48 hours, some participants bought a value of $ 3.32 million in CRV and moved assets in private wallets for long -term detention.
This behavior reflects that of an investor who recently deposited a value of $ 100 million CRV in Curve Dao. These long -term movements are important because they reduce the quantity of CRV circulating on exchanges.
Recovery can be at hand for CRV
The current liquidation thermal card offers an overview of the CRV potential for an upward rally, because it shows liquidity clusters above the current price.
Liquidity clusters represent levels in which the non -filled orders are found and often act as magnets, pulling the price towards them.
Source: Coringlass
These clusters extend up to $ 0.75, adding to the high possibility that the price moves in this direction.
In particular, the thermal card also shows that a slight box is possible, but not guaranteed, because the area below is only partially shaded in green, indicating liquidity limited to this level.
Overall, despite the current market disorders, the CRV has a strong potential for a price resumption.
