CRV faces liquidation pressure, but stolen tokens complicate market evaluation.
Bearish indicators suggest potential further declines for CRV in the short term.
Long-term outlook remains optimistic, with CRV predicted to reach $1.75 by 2030.
Curve DAO Token (CRV) faces significant market pressure following a recent liquidation event. According to PeckShieldAlert data, an address labeled Michael Egorov was liquidated for 918.83K CRV, valued at $882.66K.
However, this liquidation is unusual because the CRVs backing the position were stolen during the uwu hack in June. So these tokens are not genuine CRVs but instead are a “receipt of Sifu’s promise to repay the hacked funds.” Despite this, the market continues to assess CRV’s future potential.
There are no CRVs backing this position (they've been stolen from me during uwu hack in June 10). So, in this sense, they are not real CRV but a "receipt of Sifu's promise to repay the hacked funds"
— Michael Egorov (@newmichwill) December 19, 2024
Current Market Overview and Technical Indicators
As of press time, the price of Curve DAO Token is $0.942348, with a 24-hour trading volume of $512 million. Howev…
The post Curve DAO Token Faces Market Pressure After Latest Liquidation appeared first on Coin Edition.
