Curve DAO token (CRV) gained more than 16% over the past 24 hours, turning its weekly performance positive at around 9%, as demand for decentralized finance liquidity surged to facilitate token swaps.
Daily trading volume for CRV increased 174% to approximately $122 million, reflecting heightened buying activity in the token.
Technical Structure
CRV is trading above recent higher highs and remains positioned above both its 20-day and 50-day moving averages. The token recently bounced from the $0.2877 resistance level, which sits at the upper boundary of a previous sideways trading range between $0.18 and $0.2877.
Near-term resistance levels exist at $0.3851 and $0.3976. To reach this year's peak of $0.44, CRV must maintain its current market structure. Traders should monitor support at $0.345, below which a correction may occur.
Network Demand Indicators
Curve Finance protocol data shows growing network activity. The stablecoin crvUSD reached a market cap exceeding $283 million, providing deep liquidity for token swaps on the protocol.
Active addresses on the network averaged more than 6,000 over the past two consecutive days, while transactions reached approximately 30,000 daily. Both metrics showed significant recovery following a period of lower activity.
Total Value Locked (TVL) in Curve Finance increased by more than $300 million during the quarter, rising from $1.43 billion in July to $1.70 billion.
