A popular analyst and trader sets price targets for an altcoin that powers a decentralized exchange that focuses on the efficient Stablecoin-Trade focused.
The pseudonymous trader Credible Crypto tells its 285,600 Twitter followers that after successfully joining Convex Finance (CVX) in August, he is ready to join Curve DAO To bring tokens (CRV) on a similar run.
“It took us about four months to squeeze ten times that out of CVX. Now it’s time for our 10x on CRV.
Originally entry below $ 3, massively added between $ 3 and $ 4, and as I’ve said many times by now, it’s aiming for at least $ 40 by the end of the cycle.
Let’s get it. “
In its original August 18 tweet, the trader said “the world is asleep on CVX”.
The altcoin has had an impressive run lately, down from under $ 4 in early August All time high rose from over $ 49 last Thursday.
At the time of writing, CVX is after a correction up 14% to $ 47.01 on the weekend.
Convex Finance is a decentralized financial protocol (DeFi) built on Curve Finance, using the native CVX token for staking, liquidity mining and voting.
Credible Crypto now aims to see how high the CRV can go during the current crypto market cycle.
Following a December 22nd tweet calling for CRV to exceed $ 5.50 in the short term, Credible says that once that target is met, he could see a correction in the altcoin, possibly back to its immediate support.
“Target hit. CRV is showing tremendous strength, but if we do see a pullback it will likely come from this region.
Would love to have a breakthrough, of course, but if we look at the $ 4.60 region. “
Source: Credible Crypto / Twitter
According to DeFi tracker DeFi Llama, Curve ranks first among all projects in terms of Total Value Locked (TVL) with $ 23.46 billion. Convex Finance ranks second with $ 19.34 billion in locked assets.
The TVL of a DeFi protocol represents the total capital that is held in its smart contracts. TVL is calculated by multiplying the amount of collateral locked on the network by the current value of the assets.
The price of CRV is down 4.39% to $ 5.49 at the time of writing. The altcoin hit a monthly high of $ 5.85 on Friday after seeing a sharp surge, rising 76% from $ 3.32 in less than two weeks.
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Source: Crypto News Deutsch