Curve is a decentralized stablecoin exchange that uses an automated market maker (AMM) to manage liquidity. Synonymous with the DeFi phenomenon, Curve has seen significant growth since mid-2020. The platform launched a decentralized autonomous organization (DAO) with CRV as its internal token. It uses Ethereum-based Aragon to connect multiple smart contracts to fund liquidity.
In terms of market performance, CRV has witnessed fluctuations, with the price declining by 38% over the past year. However, the latest data shows a promising increase in the value of the token by 9.51% in the last 24 hours. Although the 14-day RSI is trading 16.86% below the 200-day SMA, indicating a potential downtrend, it suggests neutral trading conditions. With 43% of the last 30 trading days reporting positive results, Curve maintains strong liquidity. It boasts a volume to market capitalization ratio of 0.2150, indicating strong market activity and investor interest.
Possible reasons for the sharp decline in price: news that the CRV cryptocurrency used on the decentralized exchange Curve Finance has plummeted after the platform reported a hacker attack
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