An analyst contends a 19-fold increase for this Ethereum-linked altcoin, compared to Bitcoin, by the end of the cycle is a reasonable conclusion.
Hey there, folks! Let's talk about the world of crypto and today, we're focusing on an intriguing prediction from a well-known analyst. This analyst, known as Credible Crypto, has set the community abuzz with their bullish outlook on a particular DeFi project built in the Ethereum ecosystem—Curve DAO, and its native token, CRV.
Credible Crypto, who boasts a massive following of 467,000 on the social media platform X, believes it's only logical for CRV to reach new highs against Bitcoin (BTC) before the cycle ends. In fact, they think CRV could surge by around 1,840%, jumping from its current level to 0.00015 BTC ($15 in today's terms).
But what's so special about Curve DAO? Well, since CRV last hit an all-time high against Bitcoin in 2021, the project has seen some serious improvements. These include:
- Inflation Reduction: Yearly inflation of CRV has dropped significantly, from approximately 20% to just 4%.
- Token Locked: The total amount of CRV locked, effectively burned, has increased to around 40% of the entire circulating supply.
- Growing Stablecoin Market Cap: The total stablecoin market cap has skyrocketed since then, jumping from around $170 billion to a massive $240 billion.
- Curve's Native Stablecoin: Curve launched its own native stablecoin, crvUSD, which currently boasts a market cap of $200 million.
- Lending Platform: Curve launched a borrowing/lending platform that currently holds $140 million in total value locked.
- Automated Market Maker: Curve introduced an automated market maker, LLAMMA, for novel "soft liquidations" on their lending platform.
- Increased Development: The number of Curve developers has nearly doubled and developer commits are at all-time highs.
So, what does the analyst think about CRV against USD? Not unreasonable or illogical, they say, for the Curve DAO/US dollar pair to reach double-digit price levels in the current cycle—possibly even hitting the $15 mark at $100,000 BTC!
Now, remember, we're not here to give investment advice, but it certainly seems like there's a lot of potential in Curve DAO and its token. Whether this prediction comes true or not, it's always an exciting time to be a part of the cryptocurrency world, don't you think?
Stay tuned for more updates, and until next time, happy hodling!
Oh, and by the way, Bitcoin is trading at $96,597 at the moment this was written.
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- In the realm of decentralized finance (DeFi), Curve DAO, a project built within the Ethereum ecosystem, has caught the attention of analysts like Credible Crypto, who anticipate significant growth for its native token, CRV.
- Credible Crypto, with a following of 467,000 on X, predicts that CRV could increase by 1,840%, reaching 0.00015 BTC ($15 in today's terms) before the cycle ends, against Bitcoin (BTC).
- Since CRV's last all-time high against Bitcoin in 2021, the project has experienced numerous enhancements such as reduced inflation, increased token lock, growth in the stablecoin market cap, the launch of crvUSD stablecoin, a lending platform, and an automated market maker.
- The number of Curve developers has nearly doubled, and developer commits are at all-time highs, signaling increased development within the project.
- Analysts believe the Curve DAO/US dollar pair could reach double-digit price levels in the current cycle, possibly even hitting $15 if Bitcoin (BTC) reaches $100,000.
- Altcoins such as CRV, decentralized finance, and the broader crypto trading ecosystem continue to evolve and promise a future of constant advancement and growth in the macro finance industry, making it an exciting time for crypto investors.
