indicated a price uptick for the on-chain liquidity token. As of 4 November, CRV was exchanging hands at $1— a milestone it had failed to reach since 18 September.
However, the landmark would have been impossible without the rising volume. The price tracking platform revealed that CRV’s volume had increased 56% between 3 and 4 November to reach $108.23 million. This indicated that an improved number of CRV transactions rallied round the network within the aforementioned period.which was 184 on 2 November had decreased to 125 at press time. Due to the reduction, CRV might need to lower their expectations of a continued price increase.
, CRV’s TVL was $5.95 billion as of 4 November. This was a 2.88% increase in the last seven days. Thus, this implied that the chains under the Curve protocol had relatively attracted more liquidity deposited despite its shortcomings in adding more investors.Considering the CRV status, it was not uncommon for investors not to try grabbing a share of the profits. However, on-chain indication might require caution rather than excitement.that CRV might be exiting its undervalued state.
In addition, the current z-score was higher than the value it was on 2 November. Besides, the CRV realized cap aiming higher than 15.29 million meant that the price assigned to CRV was at risk of a decrease. Still, remaining in a more neutral position might be the next for CRV after this uptick ends.Subscribe to get it daily in your inbox.
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