- Curve has seen a significant price increase, driven by increased developer activity.
- In the derivatives market, there has been a notable uptick in bets predicting CRV will rise further.
Over the past week, Curve [CRV] has maintained its upward trajectory.
Following a notable 123.49% gain in its previous week’s rally, the token recorded a further 44.13% rise in the last 24 hours, positioning it among the best-performing assets in the market.
AMBCrypto examines the factors behind CRV’s recent price surge and assesses whether this momentum is likely to persist.
Investors show renewed interest in CRV
CRV has seen a notable rebound in both developer activity and total value locked (TVL), showing renewed investor confidence.
Total value locked (TVL) serves as a key indicator of investor activity within a blockchain ecosystem. It reflects the volume of assets deposited and staked to support development and operations.
After months of decline since September, CRV’s TVL has recovered significantly, reaching $2.03 billion. This recovery marks a return to pre-crash levels and suggests growing bullish sentiment in the market.
The increase in TVL aligns with an increase in developer activity, as reported by DeFiLlama.
Higher developer participation indicates continued improvements and innovation within the CRV ecosystem, which may be driving positive price momentum.
Source: DeFiLlama
This wave of buying activity is evident not only among ecosystem investors but also in the derivatives market, where traders are increasingly optimistic about CRV’s prospects.
Derivatives Traders Drive CRV Momentum
Derivatives traders are mirroring investors’ actions by opening long positions in CRV, showing strong bullish sentiment.
In the last 24 hours, the funding rate has seen a significant increase, reaching 0.0820% at press time. This predominantly bullish figure indicates an increasing presence of long traders in the market.
The funding rate plays a key role in balancing the disparity between the spot price of an asset and the futures price. A rising funding rate, as seen here, suggests that buyers (long traders) are dominating market activity.
Source: Coinglass
Open interest has also increased, registering a 30.42% increase to $270.33 million.
This growth reflected a greater number of active buyers in the market, with open contracts and sustained positions further boosting the bullish outlook for CRV.
Increase in long positions in CRV
Data from Coinglass indicated an increase in opening long positions in the market, reflecting growing optimism among traders.
Read the curve [CRV] Price prediction 2024-2025
At press time, the long/short ratio had risen to 0.9739, pointing to increased interest in CRV.
If this ratio exceeds 1, it could further support CRV’s current price rise, especially if investor and derivatives trader activity continues to strengthen.
