A widely known cryptocurrency analyst believes that one token in the Ethereum (ETH) ecosystem (DeFi) is showing signs of rising to greater heights.
An analyst known by the pseudonym Credible Crypto told his 405,200 followers on social media platform X that the underlying asset of stablecoin-focused decentralized exchange Curve DAO (CRV) is “going way higher” after the entity locked up a total of 900 million CRV.
“That’s almost a third of all CRVs that will ever exist (maximum supply of 3.3 billion) and 43% of the existing supply.
Most of them will be trapped forever.
This means that one-third of all CRV that will ever exist (43% of the current total supply) has essentially been ‘burned’ and taken off the market forever.”
At the time of writing, CRV is trading at $0.281.
Looking at Bitcoin (BTC), many fanatic analysts believe that the flagship cryptocurrency will see further downside moves.
“I don’t think this correction is over yet, but I think it will provide some relief. Below is the ideal scenario.”
Looking at the trader’s chart, it seems like he is predicting that Bitcoin will bounce from current levels to $68,000 before correcting to a low of $56,000.
At the time of writing, BTC is trading at $61,278, down about 6% over the past day.
Next up is dogwifhat (WIF). The anonymous analyst says the dog-themed memecoin is looking bearish after failing to turn resistance around $2.40 into support.
“Let’s go back into the shooting range and take the band-aid off now.
“To all the dogs out there, I hope this hat stays with you.”
Based on the trader’s chart, it seems like he is suggesting that WIF will fall below $1.20.
As of this writing, WIF is trading at $1.63, down more than 15% over the past day.
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