Curve Finance has struggled (lately) to offer its customer lucrative prizes as far as liquidity incentives are concerned. Dune Analytics confirmed that the on-chain liquidity platform that once ensured rewards worth $3.7 million early this year struggled at the moment.
While publishing this blog, Curve pool’s liquidity had its incentives worth $480,700. That represents a far drop from its worth during September ending. The alt has failed to account for that decline within the last few weeks. Moreover, 2022 liquidity incentives stayed far off $616.5 million in the 2nd year after launch.
Besides the liquidity slump, Dune Analytics confirmed a decline in CRV emissions. The altcoin’s emissions rate stood at 61.3% by September 30. Fast forward, the same had declined to 54.9% during this publication. That showed assets within liquidity pools weren’t offering enough incentives. Thus, the decline.
Furthermore, CRV didn’t show revival prospects on its charts, plus the overall cryptocurrency market is yet to repel the ongoing bearishness. Meanwhile, CRV retained its TVL (total value locked) position. While publishing this blog, the token’s TVL stood at $6.06 billion (DeFi Llama data).
This total value locked highlighted a 0.49% jump within the past 24 hours. Furthermore, a 7.14% surge emerged within the past 30 days. Indeed, Curve enjoys healthy ‘smart’ contracts. It hasn’t been all roses and sunshine for CRV, regardless of the TVL status.
Coinmarketcap data showed CRV changed hands at $0.89 during this publication. The alternative token declined by around 3% within the past day. Moreover, the volume and market cap followed suit. Can that reflect selling activities by traders?
The 4hr chart shows Curve traders sold the token. The MACD (Moving Average Convergence Divergence) confirmed the narrative. Moreover, the MACD shows buyers exhibited a weak momentum, with the buying volume beneath the histogram.
Also, the DMI (Directional Movement Index) agreed. According to the DMI, CRV will likely retain bearishness for a while. That’s because the Average Directional Index moves in tandem with –DMI at 23.05. furthermore, it could be inevitable to prevent more declines on the price chart.
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