CRV is, I believe, one of the few coins left that you can still make massive gains on, which is also part of the mainstream DeFi ecosystem. I have no idea why, but CRV is still UNDER ONE BILLION$ MARKET CAP! For the amount of TLV and usage and cross-chain and liquidity and etc etc etc etc that CRV already has (and has had for quite some time now) - its really confusing how it can still be so low. It is one of the primary projects in yield and liquidity provision and functions cross-chain.
I think the #1 reason CRV isnt bought up by retail investors yet, and perhaps more institutional, is that the GUI looks like its from 1980. If they would just get a designer to make an attractive and more user friendly UI/UX, I wouldnt imagine it not being able to reach $15-20 per CRV in a short amount of time.
Anyway, TA time: look at the chart.... 1) CRV has not even beaten its previous ATH 2) CRV has only gone about 4-5x since its lows last year; while most coins have 10x or more 3) CRV chart has been consolidating and accumulating in this price range with a tightening wedge 4) These kinds of horizontal wedges are often broken to the downside unless there is macro market buy pressure - however, I'm pretty sure we have macro market buy pressure.....
At most, I would expect us to touch supports below this wedge, and then pop up. So either way - I have already bought into CRV, and I have buy orders for more set at the price rays in the graph.
CRV is a stakable coin which you can stake solo or pair liquidity with nearly any other coin. check curve.fi and pick how you want to get your gainz! A really incredible project. Hope they work on the user interface/experience a bit more though.
Trade active
⋅
Followup post:
We could still break down and re-enter the wedge. Volume is higher than average, but not huge. If we break back into the wedge, perfect time to setup more buy orders along the bottom of it.
Comment
⋅
surprisingly, CRV did very well while BTC dumped to retouch support levels (which we have been expecting since March - view my older BTC posts - theyre literally on the dollar accurate).
We are seeing very bullish action from CRV trying to break this current pattern. But also quite a bit of sell pressure. This is probably coming from the team and investors behind CRV taking some profits and suppressing price. This is part of the CRV price suppression problem, because of how many CRV tokens were claimed by the team and investors......so this is unfortunately part of CRV's growth pattern until all those tokens have been released.
In any case we are still one of the most undervalued cryptos which has just broken a market cap of 1BN, and yet it has a total of over 7bn in locked value using CRV to farm yield. Extremely, extremely, undervalued crypto here that will see huge gains by end of the year.
I'm totally agree with you! But you forgot to mention something very important that make this Gem very way under value and soon to pop to the moon! Is that the circulating supply is only 274 M. Compared with others thst have billions and billions and have higher price.
ezpi
⋅
@chocherita, absolute # of circulating supply is erroneous. it doesnt matter.
i can make a coin with 10 circulating supply or 10,000,000,000 ----
what matters in tokenomics is:
1) the ratio of circulating supply to max supply: this shows how many % of the total amount are "on the table". if only 10% or 20% of max supply are available? then the coin needs to continue growing with its release schedule or price could drop drastically still.....
2) the max supply and the token disbursement schedule: if a team takes 50% of the tokens for themselves, 30% for investors, and 10% for rewards - leaving only 10% to be tradable for the public....then you've got a really shit situation where you are putting huge risk into getting "rug pulled" by the people with most of the coins.
Now, while I am an investor in CRV and will continue to be very bullish about it - you SHOULD understand its tokenomics before buying.
There are some issues which are concerning with CRV tokenomics. Its a "GOOD" schedule, but its not by far the best I've seen:
dao.curve.fi/inflation
I also highly recommend learning how CRV actually works, and how much more money you can make WITH it by staking or doing yield farming with it:
resources.curve.fi/
carefulUser19838
⋅
Are we still going down to test 3.40 as a support or continue from where we at 3.62 ?