The purchase of CRV tokens worth $1.2 million by Michael Egorov, founder of Curve Finance, caused activity in the market. While the CRV price follows a horizontal course at $ 1.10, experts state that the price may rise above $ 2 in a short time.
Michael Egorov’s Acquisition Move Attracts Attention
According to data from blockchain analysis platform Spot On Chain, Michael Egorov purchased approximately 1.08 million CRV tokens at an average price of $1,114. This purchase stands out as Egorov’s first major investment since the June 13 liquidation incident. This move by Egorov caused comments that trust in the CRV token was restored.
Experts in the crypto market see Egorov’s investment as an important catalyst in the price movement of the token. Some analysts, Bitcoin $107,285.9He says that as ‘s value approaches record levels, capital will shift to altcoins. This strengthens the prediction that the next target of the CRV price may be $5.
“If CRV can re-establish an accumulation range here, I would be interested in long positions,” said Jip Molenaar, a leading analyst. Molenaar added that the token has entered a period of consolidation in the current price band.
Ethena’s USDtb Stablecoin Boosts Demand
Demand for Curve Finance’s infrastructure has increased since the Ethena protocol launched its USDtb stablecoin. Ethena launched the new stablecoin with the support of BlackRock’s BUIDL and in collaboration with Securitize. USDtb’s integration into Curve DEX creates growing demand in the decentralized finance (DeFi) ecosystem.
With this development, Curve continues to be one of the critical stones of the DeFi ecosystem. $196 million worth of USDe and $20 million worth of sUSDe provided by Ethena are held in Curve pools. Two new Curve pools were launched to increase liquidity: USDC/USDtb and USDe/USDtb.
While the CRV price was moving sideways at $1.10 at press time, its market cap reached $1.37 billion. Coinglass data shows that CRV’s open interest increased by 2.3 percent, reaching $259 million.
CRV’s price movement is being closely followed due to Michael Egorov’s latest investment and developments at Curve. Experts are cautiously optimistic that CRV may reach higher levels in the coming period.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
