Curve DAO (CRV), which was exposed to a hack event that shook the crypto money industry in the past weeks, decreased to $ 0.48 in Binance with the hack, while it decreased to $ 0.1 in some exchanges.
However, despite the negativities experienced, CRV is recovering rapidly.
At this point, a support came from Binance Labs, the venture capital and incubation arm of the world's largest crypto exchange Binance, and invested $5 million in Curve DAO Token (CRV).
While CRV was recovering, popular platform Santiment evaluated the CRV.
Stating that the CRV has not completely decreased despite the high FUD level it has experienced, Santiment said that wallets holding 10K and 100M CRVs have increased greatly recently.
“As wallets holding 10K to 100M CRVs continue to grow rapidly, these wallets held 33% of the current supply just two weeks ago, while at the time of this writing they had a massive 41% share.
This has been a tremendous rise. So right now this is the highest rise sharks and whales have had in over a year.”
Noting that whale CRV transactions have also increased, Santiment said, “While prices are still significantly lower than 2 weeks ago, a trailing whale transaction increase could herald a rapid recovery.” said.
Finally, Santiment reminded those who are worried that the CRV is gone, despite all the FUD, the CRV2 is still standing.
CRV is at the level of $0.60 at the time of writing.
➰🐳 #CurveFinance has had a rough go of things in 2023, & its founder's controversy hasn't helped. But the project is looking to move on, and doing so successfully may present opportunities at this level. Read our insight for our $CRV metrics breakdown. https://t.co/CF7QCfDzYM pic.twitter.com/emhsfEtB9g
— Santiment (@santimentfeed) August 11, 2023
*Not investment advice.
