The Coin That's Beating Bitcoin

Curve (CRV) has had a rough year, with a 60% drop in value since last year. However, in the last three months, trading volume has started to pick up, signaling an increase in utility.

1Year CRV Price

The recent hack on the CRV network resulted in a loss of assets for many users, but the issue has since been resolved. The circulating supply of CRV has remained relatively stable, and the 30-day market value to realized value (MVRV) is currently at 39%, indicating potential overvaluation. For altcoins, an MVRV above 20% is considered a high-risk zone, and it may be wise to wait for the MVRV to drop below 10% before making a purchase. The long-term MVRV is also currently above 0%, signaling caution for traders.

Long and Short term MVRV

Whale transactions have recently spiked, indicating increased engagement among large holders, while small and medium holders have remained stagnant. There is no notable news regarding the distribution of CRV holders. The supply of CRV on exchanges has also been fluctuating, potentially due to the movement of tokens on the Curve platform and staking rewards.

Whale Transactions

Social volume has recently increased, but sentiment is still negative. Development activity on the CRV network is not as advanced as other coins such as Cardano.

Based on the information provided, it is possible that CRV may experience some range-bound trading in the short term. The high 30-day MVRV and recent uptick in trading volume suggest that there may be some price volatility, but the stable circulating supply and recovery from a recent hack may indicate that the coin has potential for growth in the long term. Additionally, the increase in engagement among large holders may be a bullish sign for the coin's future performance.

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