At press time, liquidity incentives on the Curve pool were worth just $480,700. The aforementioned value was a further decline from what it was worth at the close of September. Over the past few weeks, Curve has not been able to account for the decline in the same.
In fact, the liquidity incentives this year have been far off the figures of $616.5 million recorded in the second year of launch.Besides the liquidity drop, Dune Analytics also reported a fall in the CRV emission rate. As of 30 September, the CRV emissions lock rate was 61.3%. Fast forward to the time of this writing, and the emission rate had fallen to 54.9%. This meant that the assets in liquidity pools were not providing enough incentives. Hence, the decline.
At the same time, CRV did not show any recovery prospects on the charts, especially as the entire crypto-market had not retired the prevailing bear sentiment.On the brighter side, CRV did not fail to hold on to its Total Value Locked position.. This TVL represented a 0.49% hike from the figure recorded 24 hours ago. In fact, a 7.14% uptick has been seen in the last 30 days. Simply put, the health of CRV’s smart contracts is good., CRV was trading at $0.
Similarly, the Directional Movement Index also agreed. Based on the DMI, CRV is likely going to stay bearish for a while, considering that the Average Directional Index is moving in a similar direction with the negative DMI at 23.05. Ergo, it might be inevitable to avoid a further downtrend on the charts.Subscribe to get it daily in your inbox.