Whales Take Advantage of CRV Price Drop 🐋
The recent dramatic price drop of Curve Finance’s native token, CRV, has caught the attention of many in the crypto community. As the token experienced a significant decline of nearly 40%, reaching an all-time low of $0.20, investors were left in a state of concern. However, amidst this turmoil, whales saw an opportunity to capitalize on the situation and accumulated millions of CRV tokens at a discounted price.
– On June 13, CRV price plummeted, sparking liquidation fears
– Curve Finance’s token dropped by almost 40% to reach an ATL of $0.20
– The project’s team worked on stabilizing the token, leading to a recovery
– CRV reclaimed the $0.30 support level but retraced back to $0.27-$0.29
– A gradual uptrend ensued with the token currently trading around $0.33
– Whales used the dip to amass over 50 million CRV, worth $19.4 million
Whales Profit from CRV Accumulation 📈
Spot On Chain, an on-chain analytics firm, reported that six whales took advantage of the CRV price drop and bought a substantial amount of tokens during the dip. These whales collectively accumulated 55.26 million CRV, totaling approximately $19.4 million. Interestingly, five of these whales were first-time buyers, contributing to a surge in new token purchases during the week.
– The whales purchased 55.26 million CRV during the price dip
– Five out of the six wallets were first-time accumulators
– Unrealized profits for the whales currently stand at $1.43 million
– The biggest gainer realized a 21.84% ROI on their investment
– Whales have profited around 8% from their CRV accumulation
Analysts Bullish on CRV Price 🚀
Several crypto analysts have shared optimistic forecasts regarding the future price performance of CRV. Following the token’s recovery to the $0.3 range, Follis, a crypto trader, predicted a significant uptrend for Curve Finance’s token. He suggested that CRV could be one of the first altcoins to double in value from its recent lows.
– Trader Follis anticipates a strong performance from CRV
– Analyst CrediBull sees a potential $2 target for CRV
– Another trader, Sanchez, expects a relief rally for CRV
– Analysts believe CRV is poised for a bullish run
– Positive sentiment surrounds CRV’s price potential
Hot Take 🔥
The recent price drop of CRV has led to a surge in whale accumulation, as these large investors took advantage of the discounted token price. Despite initial concerns from investors, the token has shown signs of recovery, prompting bullish forecasts from crypto analysts. With the potential for further price gains and positive market sentiment, CRV could be on track for a significant uptrend in the near future.
Sources:
– Spot On Chain Report:
– Follis’ Twitter Account:
– CrediBull’s Twitter Account:
– Sanchez’s Twitter Account:
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