Home / Price Predictions / CurveDAO Price Prediction 2024: CRV Price Analysis

CurveDAO Price Prediction 2024: CRV Price Analysis

Last Updated June 13, 2024 11:35 AM
Giuseppe Ciccomascolo
Last Updated June 13, 2024 11:35 AM

Key Takeaways

  • CurveDAO’s CRV token has fallen recently.
  • The CurveDAO DEX suffered a hack in July 2023.
  • Can CRV ever recover?
  • Our CurveDAO price prediction says CRV could reach $3.28 in 2025

The CurveDAO decentralized exchange (DEX) lost more than $50 million in a crypto hack in July last year, and its CRV token has struggled since.

CRV was able to make something of a recovery in late September after someone purchased  millions of dollars worth of the token on the Binance (BNB) exchange.

However, despite agreeing to reimburse people who lost out in the hack, CRV has been underperforming recently.

On June 13, 2024, CRV was worth less than $0.30.

CurveDAO did not respond to a request for comment.

But what is CurveDAO (CRV)? How does CurveDAO work?  Let‘s see what we can find out and also take a look at some of the CurveDAO price predictions that were being made as of June 13, 2024.

CurveDAO Price Prediction

Let’s examine some of the CurveDAO price predictions being made by CCN.com on June 13, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Minimum CRV Price Prediction Average CRV Price Prediction Maximum CRV Price Prediction
2024 $0.32 $0.52 $0.83
2025 $0.25 $1.62 $3.28
2030 $3.73 $6.43 $8.89

CurveDAO Price Prediction for 2024

If the positive momentum continues and CurveDAO breaks above its moving averages, it could reach targets between $0.52 and $0.83 by the end of 2024, with the average price set at $0.52.

CurveDAO Price Prediction for 2025

Technical analysis suggests a potential increase for CRV in 2025. The minimum CurveDAO price expected for 2025 is $0.25 while the maximum one is $3.28. In the middle, it may reach $1.62.

CurveDAO Price Prediction for 2030

Based on technical analysis, the CRV token may reach a maximum level of $8.89 at the beginning of the next decade, while, in the worst scenario, it may drop to $3.73. The average expected price is $6.43.

CurveDAO Price Analysis

CRV price analysis
CRV price analysis. | Credit: Giuseppe Fabio Ciccomascolo/Investtech

The Curve DAO Token has broken out of its medium to long-term downtrend channel, indicating an accelerated rate of decline.

The price chart shows no significant support levels, suggesting a potential for further drops. Resistance is present at 0.42 points, which could hinder any positive movement. The negative volume balance highlights aggressive selling and passive buying, weakening the token’s position.

Additionally, the short-term momentum is strongly negative, with the RSI (Relative Strength Index) falling below 30. This low RSI reflects growing investor pessimism and predicts further declines.

However, in major assets, a low RSI can sometimes signal that the asset is oversold, potentially leading to a short-term upward reaction..

Price/Performance Comparisons

Current Price One Year Ago Price Change
CurveDAO $0.2869 $0.5710 -56%
Uniswap $9.89 $4.4047 +129%
SushiSwap $0.9813 $0.5564 +71%
Convex Finance $2.00 $3.2550 -43%

CRV Price History

Curve DAO Price History
Curve DAO in 2023 and 2024 | Credit: CoinMarketCap
Period CurveDAO Price
Last Week (June 6, 2024) $0.4628
Last Month (June 13, 2024) $0.4114
Three Months Ago (March 13, 2024) $0.8297
Last Year (June 13, 2023) $0.5710
Launch Price (August 15, 2020) $11.5396
All-Time High (August 15, 2020) $11.5396
All-Time Low (June 13, 2024) $0.2836

Who Owns the Most Curve DAO (CRV) Tokens?

As of June 13, 2024, a Curve DAO wallet held 25.28 of CRV’s total supply.

Richest CRV Wallet Addresses

On June 13, 2023, the wallets with the most Curve DAO were

  • 0x5f3b5dfeb7b28cdbd7faba78963ee202a494e2a2. This is wallet held 765,922,129 CRV, or 25.28% of the total supply.
  • 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet held 219,904,657 CRV or 7.26% of the total supply.
  • 0x28c6c06298d514db089934071355e5743bf21d60. This wallet held 191,836,993 CRV or 6.33% of the total supply.
  • 0x6cc5f688a315f3dc28a7781717a9a798a59fda7b. This wallet held 92,692,667 CRV, or 3.06% of the total supply.
  • 0xe3997288987e6297ad550a69b31439504f513267. This wallet held 47,545,144 CRV, or 1.57% of the total supply.

Fact Box

Supply and distribution Figures
Total supply 2,129,913,485
Circulating supply on June 13, 2024 1,239,684,903 (50% of total supply)
Holder distribution Top 10% of holders owned 48% of maximum supply as of June 13, 2024

From the Whitepaper

In its technical documentation or whitepaper , Curve DAO, originally known as StableSwap, says it was designed with stablecoins in mind. It admits that it owes a debt to the Uniswap (UNI) DEX.

It says: “On the demand side, it offers a Uniswap-like automated exchange with very low price slippage (typically 100 times smaller). On the supply side, it offers a multi-stablecoin “savings account” which, according to simulation, can bring 300% APR, according to simulations assuming that traders will arbitrage between the smart contract and existing exchanges, taking into account their trading volumes and prices for stablecoins for the past half a year. This happens with no middleman being responsible for the trading, e.g. no exchange owners, no order books, no human market makers.”

What Is Curve DAO?

The Curve DAO  is, in effect, a decentralized crypto exchange (DEX). What makes it stand out from other DEXes is that it was created to specialize in the trade of stablecoins. These are cryptocurrencies whose price is linked to a fiat currency.

What makes decentralized exchanges different from traditional ones is that, since no one is in control of the system, people can trade whichever coins and tokens they want at a price that is set solely by the market. 

Curve DAO is, as its name suggests, a decentralized autonomous organization, which means, at least in theory, that no single individual has control over the platform. 

How Curve DAO Works

Rather than use order books, like other exchanges, Curve DAO uses liquidity pools, funded by the CRV token, which use smart contracts, and computer programs that automatically execute once certain conditions are met. 

People who hold CRV can be paid rewards for staking their tokens. People can also buy, sell, and trade it on exchanges. 

One important thing to point out here is that, because Curve DAO operates on the Ethereum blockchain, CRV is a token, rather than a coin. You might see references to such things as a Curve DAO coin price prediction, but these are wrong.

Is Curve DAO a Good Investment?

It is hard to say. CRV has done comparatively well for a token that covers a relatively niche market since it came out about three years ago. That said, it has struggled since July. A lot will depend on whether the platform can win back customers’ trust. 

How the market performs as a whole will also be crucial. Nevertheless, you must do your research. 

Will Curve DAO go up or down?

No one can tell right now. The predictions are broadly optimistic. Remember, though, that price predictions are likely to be wrong. Prices can, and do, go down as well as up. 

Should I invest in Curve DAO?

Before you decide whether or not to invest in Curve DAO, you will need to do your research, not only on CRV but on other, similar, crypto coins and tokens, such as Uniswap (UNI) or Osmosis (OSMO). More importantly, though, you must make sure that you never invest more money than you can afford to lose. 

Curve DAO Attention Tracker

CurveDAO Google search volume
CurveDAO Google search volume. | Credit: Google

Here is a chart for the Curve DAO Google search volume for the past 90 days. This represents how many times the term “Curve DAO” has been Googled over the previous 90 days.

FAQs

How many Curve DAO are there?

On June 13, 2024, there were 1.2 billion CRV in circulation, out of a total supply of 2.1 billion.

Will Curve DAO reach $10?

It might do but, if it does, it won’t happen for some time. Price predictions based on technical analysis say that it can get there in the next decade.

Keep in mind that the token has been worth more than $10 before, but this was shortly after it was first released, indicating that it was initially overvalued.

What is Curve DAO used for?

CRV helps provide liquidity for the Curve Dao decentralized exchange (DEX). People can also buy, sell, and trade it on exchanges. 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.