- Wallets holding 10K-100M Curve Finance tokens have increased their holdings recently.
- Santiment warns of potential CRV sell-offs despite significant accumulation by holders.
- Despite a 24-hour dip, CRV’s weekly performance remained positive.
In their most recent analysis, Santiment disclosed a significant accumulation trend among wallets holding 10K to 100 million Curve Finance
Despite the significant accumulation by large-scale holders, Santiment cautioned that potential CRV sell-offs could still be on the horizon. The report highlighted five substantial transactions over the past week, amounting to over $10 million. Importantly, two of these transactions were between exchange wallets, suggesting the possibility of further sell-offs in the imminent future.
The downward pressure on CRV may be nearing its end, as Santiment’s observation indicates that the volume of large-scale transactions has largely subsided since CRV’s price plummeted to slightly over $0.50 a fortnight ago. However, the report underscored that CRV’s current trading value remains considerably below its pre-crash level.
Despite the pessimism surrounding CRV, Santiment’s data indicates that the project could be more active, with a consistent stream of Github activity. The report highlights that CRV logs between 10 and 14 significant Github commits daily. While this may not set any records, it is a promising indication that the team remains committed to the development, undeterred by the prevailing market fear, uncertainty, and doubt (FUD).
As of the latest update, CoinMarketCap data shows CRV trading at $0.6064. This follows a 24-hour depreciation of 1.07% for the altcoin. This downturn has led to the cryptocurrency trading nearer to its 24-hour low of $0.6048, as opposed to its daily high of $0.6492.
A noteworthy aspect is that despite a 24-hour price dip, CRV’s weekly performance remained positive. As of the latest update, CRV’s price has seen a 5.58% uptick.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
