Curve DAO Token [CRV] may have had an impressive 5.93% hike in the last 30 days, but long-term large investors of the token
A chunk of the accumulation came from large dormant addresses. Instances like this are accompanied by significant upticks. But will CRV succumb?may have had an impressive 5.93% hike in the last 30 days, but long-term large investors of the token seemed to think that this is just the start. This sentiment was evident in the behavior of sharks known to hold between 1 million to 10 million CRV tokens.According to Santiment, the said cohort added another $9.
Usually, rising volume on rising prices tends to bring about a likely price increase, and signals increased interest in a cryptocurrency. If the volume continues to rise and CRV doesn’t fall to profit-taking, it is possible for the token value to rise toward $0.50 in the coming days.. According to Santiment, CRV’s exchange inflow was 35,200 at press time. This metric is the number of tokens sent from non-exchange wallets into exchange addresses.
On the other hand, the exchange outflow was higher at 55,500. The opposite of the inflow, the exchange outflow is the number of tokens sent out of exchanges. It is also noteworthy to mention that only one throughout the last week has the inflow outpace the outflow. So, a much larger outflow means there is a very tiny chance for CRV to expect selling pressure. That is if there is any significant one. This means that a large part of the market is
Provided the exchange inflow doesn’t outweigh the outflow, Curve’s price has a high chance of resisting a downside.Victor is a full-time journalist at AMBCrypto. Before his sojourn into the world of journalism, he was a “buy the top, sell the bottom” merchant while doubling as a sales funnel copywriter. Victor’s focus is the exciting on-chain landscape of the cryptocurrency market and its underlying technology. His other interests include politics, Afrobeats, sports, and marketing.
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