Over the last two weeks, the crypto market has experienced a notable upward trend, sparking investor optimism for an imminent bull run. One notable gainer amid the rally is the Curve DAO token (CRV), the native token of decentralized finance (DeFi) protocol Curve Finance, mounting double-digit gains.
While the majority of tokens have since relinquished their gains, the Curve DAO token is still standing strong.
Curve DAO to reach $1?
Presently trading at approximately $0.816, CRV has recorded a healthy 13.7% increase over the last 24 hours, building on the momentum of its impressive run throughout the week.
This marks an impressive 33.3% and 56.7% surge in seven and 14 days, respectively, bringing its total gains in the last 30 days to 76%.
Curve DAO’s breakout follows its month-long waver between $0.543 and $0.60, fueling optimism for the token’s ability to hit the $1 mark.
Despite this strong performance, the Curve Finance native token still has plenty of room for growth, as it remains down 85.4% from its all-time high trading price of $60.50.
What’s Driving the Curve Token Surge?
The ongoing upward trend in CRV price aligns with the broader bullish market sentiment, which has seen the majority of market players record significant gains.
Leading the charge is Bitcoin, which has stunned the market with a 57% increase from its year-start trading price of $43,000, currently hovering over $67,000. The market giant also recently brushed its ATH price of $69,000, before slipping back to a $65,000 range due to a surge in liquidation.
The Bitcoin-led rally has also rippled through many other crypto tokens such as Ethereum and Solana, which have rallied 65.5% and 33.8% in the past 30 days, respectively.
Source : DailyCoin by Grace Abidemi / Mar 6, 2024