Curve DAO (CRV) Price Rebounds Amid Favorable Developments
Curve DAO (CRV) may have already seen its darkest days behind it, as the token has recently had a string of gains. On-Chain information reveals that the spot price of CRV spiked more than 8% in the last 24 hours. One of the most turbulent weeks for CRV since the devastating crypto winter, when the token plummeted to a low of $0.52, has just passed. It reached a recent high of $0.69.
With the coin’s price down by just 13% over the last 7 days, the stats are looking a lot better and more encouraging at the moment. Prices fell as low as 50% in the wake of the Vyper exploit that shook its ecosystem, thus the latest rebound is very noteworthy.
The company’s future seems promising, with interest from purchasers rising again. Overnight, trade volume increased by as much as 96%, a key indicator that the Curve Finance ecosystem is once again becoming liquid.
Now that the Decentralized Finance (DeFi) ecosystem as a whole is on the mend, Curve DAO may once again bask in the glow of its $2.22 billion in Total Value Locked (TVL), according to statistics from DeFiLlama.
While it remains debatable whether or not CRV’s expansion is sustainable, the current measurements indicate that the DeFi platform has returned to its pre-growth state, which is good news for the Web3.0 ecosystem as a whole.
As is typically the case, a series of favorable developments are helping to improve the outlook for Curve DAO. One of these triggers is the slow reimbursement of more than $61 million taken by its exploiter.
In addition to the reimbursement, which indicates modest losses on the part of the Curve Finance team, protocol founder Michael Egorov has paid back most of the loans he took out to restore liquidity to the Curve Finance protocol.
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