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Curve Finance’s CRV didn’t witness the best price action in the last 30 days and showed no sign of recovery CRV’s on-chain metrics too had also been full of decreases and dormancy Curve Finance [CRV], which was the subject of a good performance some months back, had lost 30.95% of its value in the last […]
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Data from IntoTheBlock, a blockchain analytics platform, revealed that CRV, the native token of leading decentralized exchange, Curve Finance, enjoyed significant whale accumulation in the last month. According to IntoTheBlock, whale addresses holding between 100k to one million CRV added about 10.2 million CRV tokens to their portfolios. In the past four days alone, this […]
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Curve Finance [CRV], the on-chain liquidity exchange, was attacked in what was termed a “DNS cache poisoning” on 9 August. This exploit capitulated CRV as the price plunged from $1.48 on 8 August to $1.25 on the event day. Surprisingly, the coin picked up and increased to $1.42 on 11 August. On the same day, […]
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Curve DAO token [CRV], the native cryptocurrency of DeFi maestro, Curve Finance, surged as high as 22% in the last 24 hours of 22 July. In an unexpected upward move, CRV has been one of the most profitable cryptocurrencies. With a market capitalization of $770 million, the crypto community might ask what the driving force […]
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Coinbase Pro has added support for Ankr (ANKR), Curve DAO Token (CRV), and Storj (STORJ). The exchange unveiled this news through a blog post on March 23, allowing users to deposit the three tokens in their accounts before trading commences. Reportedly, the coins will be tradable in all Coinbase-supported jurisdictions. However, CRV won’t be available in the state of New York.
According to the blog post, trading will start at 4:00 PM UTC on March 25 once the coins meet Coinbase’s liquidity conditions. Upon achieving ample supply of ANKR, CRV, and STORJ, the exchange will roll out the trading of the tokens in three phases. These are post-only, limit-only, and full trading. Each of the coins will trade against USD, BTC, EUR, and GBP.
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Like other coins listed on Coinbase, ANKR, CRV, and STORJ will have to adhere to Coinbase Trading Rules. As such, if one of the new order books fails to meet the exchange’s assessment for a healthy and organized market, it will remain in one stage for longer. If it fails to achieve this feat, Coinbase might suspend its trading altogether.
Coinbase Pro’s support for STORJ, CRV, and ANKR has seen all three coins register significant gains.
Yesterday, STORJ surged 95.08% to trade as high as £1.49% before making a slight downward correction. At the time of writing, 7:50 AM UTC, the coin is still trading bullishly after gaining 103.83% over the past 24 hours to change hands at £1.25. STORJ has a daily volume of £1,133,535,060 and a market cap of £315,996,723.68.
ANKR was the second-largest gainer after registering a 45.78% change yesterday to trade as high as £0.089. However, the coin soon dipped to close the day’s trading at £0.076. Over the past 24 hours, ANKR is up 37.94% and is still struggling to recover the lost value. The coin is currently trading at £0.072 with a daily volume of £965,687,993.5 and a market cap of £503,587,638.5.
CRV was the third-largest gainer after rising 22.33% yesterday to trade as high as £2.34 before correcting downwards to close trading at £2.11. At the moment, CRV’s is up 30.53% and has managed to recover some of yesterday’s gains to change hands at £2.16. The coin has a daily volume of £519,951,481.88 and a market cap of £552,770,952.1.
Excitable speculators mistakenly rushed to invest in the native token of decentralized finance protocol Curve Finance (CRV) after reports emerged that payments giant PayPal has acquired the unrelated Israel-based crypto custody firm, Curv.
News of PayPal’s Curv acquisition was reported on March 2, with the publications citing anonymous sources “familiar with the matter.” Israel-based media has reported the company may have been sold for between $200 million and $300 million.
Within an hour of the news breaking, Curve’s CRV token had rallied by more than 10% as opportunistic traders raced each other to enter the markets — pushing prices up from roughly $2.30 to $2.60.
The official Twitter account of Curve has also been mistakenly tagged in numerous posts celebrating PayPal’s acquisition, to which Curve has responded in a bid to dispel the confusion:
The correct account for that is @curvmpc, not us
— Curve Finance (@CurveFinance) March 2, 2021
CRV quickly reversed the rally to give back all of its gains as traders realized their mistake. The resulting red candlestick was CRV’s largest hourly candlestick by trade volume since Jan. 21.
However, all publicity is good publicity and despite the confusion, CRV has since bounced off support at $2.20, and last changed hands for $2.60 to post a gain of 29% over the past 24 hours. As such, CRV currently ranks as today’s best-performing Ethereum-based asset, according to market data aggregator Messari.
This is not the first time fools have rushed in to buy the wrong ticker. In January, confused traders rallied around the New York Stock Exchange-listed Tanzanian Gold Corporation (TRX) after Justin Sun’s Tron cryptocurrency (also TRX) was promoted to traders in the notorious r/WallStreetBets group.
Justin Sun was shilling his shite token TRX to the WSB subreddit but they bought the Tanzanian Gold Corp (which is the TRX stock) instead pic.twitter.com/Q5CW4znqai
— ∞ CO฿IE (@CryptoCobain) January 30, 2021
The debacle saw daily trade in Tanzanian Gold Corporation’s stock increase by nearly 84 times on Jan. 29, spiking from an average daily volume of 584,000 shares to 49 million. The day saw TRX stock prices rally from $0.85 to more than $1.90, before collapsing to close the day at a roughly 15% loss.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Samuel Haig
Persistent price volatility in Bitcoin (BTC) price action and other similar cryptocurrencies indicates a potential need for stablecoins and other less volatile digital currencies.
Bitcoin has been on a frenzy over the past year, however, its high volatility and the need for less volatile cryptocurrencies are being mentioned again among crypto enthusiasts.
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Increasing interest for Bitcoin and other crypto-assets among individuals and institutional investors makes a perfect case for broader blockchain and crypto adoption. However, while the number of investors interested in BTC continues to grow, demand for less-volatile and more sophisticated crypto assets has also been on a rise.
A rising demand means that the importance of these stablecoins is increasing as well, especially when it comes to new blockchain applications. Looking closely shows that DeFi applications and cryptocurrencies that are more centralized actually operate much closer together than it appears at first sight.
DeFi is expected to provide a number of financial inclusion and accessibility offerings and it looks like stablecoins will play a major role in delivery of those goals.
Chiliz (CHZ) price gained 17.3% yesterday to swing into the green territory after recording losses in the first part of the week. Curve DAO (CRV) price is another major beneficiary of the uptrend witnessed in some altcoins in the past two days.
The price action rose nearly 25% in the past two days to erase losses of over 18% recorded on Monday. Finally, TomoChain (TOMO) price is up over 11% today to hit the highest levels last seen in August. As seen in the chart, TOMO price stopped at 127.2% Fibonacci retracement at $1.42.
Interest for stablecoins and other crypto assets with low volatility has been growing lately, as it appears that these assets will play an important role in the future of blockchain and decentralized finance (DeFi).
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