Curve leads cryptocurrency market with 15% price increase in the last 24 hours
Curve DAO token CRV leads the cryptocurrency market with a 15% price increase in the last 24 hours. According to CoinMarketCap, CRV is the most profitable asset from the top 100 of cryptocurrencies by market capitalization.
While there were no fundamental updates tied to Curve, the rising price of the underlying token may be tied to market and trend factors like the shift in investors’ sentiment, which is now leaning toward less risky options like liquidity provision and stablecoin staking.
So far, decentralized platforms in May are seeing an inflow of funds as the total TVL on all platforms and blockchains rose from $195 billion to $200 billion in the first four days of the month. While the rise in the TVL is not significant, it still reflects the sentiment on the cryptocurrency market.
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Abracadabra’s buying spree
According to the most recent “What’up on curve” article, Abra grabbed 5.78 million CRV per $2.33 for a token. The purchase pulled 90% of CRV on deposit at FTX, leaving only 575,000 CRV in liquidity left on the exchange.
The project does not seem to stay in one place as it constantly updates users on new funds, joining Curve Wars and the opening of new pools. The most recent news included the opening of TheCitadel_DAO.
Curve will consider reducing fees as the new model has been presented, which will also increase the holdings of the DAO despite decreasing the income of a specific pool.