What Curve DAO Metrics Hint At Regarding Futures Price Action
– The percentage of the Curve DAO supply each investor group holds is a relevant metric to consider.
– The cohort of interest holds between 10,000 and 100 million tokens of the asset, including sharks and whales.
– Recent data shows that sharks and whales have significantly expanded their reserves, indicating a positive sign for the cryptocurrency’s price.
– The total number of CRV transfers happening on the chain carrying a value of more than $100,000 is another indicator to watch.
– While the whale transaction count had spiked during Curve DAO’s plunge, it has since returned to normal, suggesting a lack of extraordinary activity from these investors.
– The development activity of Curve DAO has remained relatively high, indicating ongoing support from its developers.
Hot Take
The on-chain data suggests that Curve DAO may experience a rebound in the near future. The increased holdings of sharks and whales, along with a potential spike in whale transactions, indicate that these key investors see the current price levels as a buying opportunity. Additionally, the high development activity reflects the commitment of Curve DAO’s developers to innovate and improve the project. Despite a decline in recent weeks, there is potential for a quick recovery in the price of CRV.
By
By
By
By
By
By