- Curve Finance’s native token is recording minimal gains after falling for several weeks.
- The gradual rise helped Curve DAO rebound from its all-time lows.
- Slight upward momentum in the broader cryptocurrency market is fueling optimism about a recovery.
The week that recently concluded was a difficult one for Curve DAO (CRV), the native token of the Curve ecosystem, which is struggling to regain balance after a deep decline to record lows. Despite market movements that saw some assets move slightly higher, CRV remained stagnant and was unable to reverse its downward trajectory.
But surprisingly, the token could be aiming for a recovery by the end of the week.
Curve rises 4% on road to recovery
According to CR V’s trading data as of Friday, May 3, the token has seen an increase of 3.7% to 4% in the last 24 hours to a value of $0.435. This uptrend suggests that Curve DAO’s fortunes have reversed and it has corrected its one-week low.
Curve’s current upward momentum is minimal, but it represents an increase of about 30% from its all-time low of $0.33, which fell on April 12 due to the cryptocurrency market crash.
However, the token is still 36% below its annual opening value of $0.605 and 93% below its yearly high of $0.8, dashing the once-elevated excitement about the potential to regain the $1 peg.
The upward pressure on the price of Curve DAO is likely related to the modest recovery of Bitcoin (BTC), which has had a somewhat difficult week. Currently trading above $61,600, BTC has recorded a total gain of 4.4% over the past day.
This marks a rebound from the giant token’s weekly low range of $56,000-$57,000 and has sparked recovery hopes across the broader market.
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