<\/p>\n
- \n
- Activity by dormant CRV addresses peaked for the first time since July, bringing about a surge in accumulation.<\/em><\/li>\n
- With increasing volume and more exchange outflows, CRV\u2019s price action could improve.<\/em><\/li>\n<\/ul>\n
Curve DAO Token [CRV]<\/span><\/a> may have had an impressive 5.93% hike in the last 30 days, but long-term large investors of the token seemed to think that this is just the start. This sentiment was evident in the behavior of sharks known to hold between 1 million to 10 million CRV tokens.<\/span><\/p>\n
\nHow much are <\/span>1,10,100 CRVs worth toda<\/span><\/a>y?<\/span><\/p>\n
\nAlive to take chances on Curve<\/b><\/h4>\n
According to Santiment, the said cohort added another $9.5 million worth of CRV between 12 and 13 October. The more interesting part is that these sharks are not just the ones who are relatively operational in the market.<\/span><\/p>\n
\n
\ud83e\udd88 #Curve<\/a> has seen another big accumulation day from sharks holding 1M-10M $CRV<\/a> tokens. In just 24 hours, they added 9.5% more to their collective bags, worth $9.5M. A big part of this came from dormant wallets, who are at their most active since July. https:\/\/t.co\/VzZzmo4e3p<\/a> pic.twitter.com\/DT6E4lrm0H<\/a><\/p>\n
\u2014 Santiment (@santimentfeed) October 13, 2023<\/a><\/p>\n<\/blockquote>\n
Instead, a chunk of the accumulation came from dormant addresses, driving activity by these wallets to their highest point since July. An interpretation of this change looks similar to that of <\/span>Ethereum [ETH]<\/span><\/a> where a lot of addresses are switching from HODLing to trading.<\/span><\/p>\n
For Curve, it is likely that these investors are trying to capitalize on rises in the token value. In fact, the period of these sharks\u2019 accumulation drove CRV from $0.42 to $0.44. But could more be in place for Curve in the short term?<\/span><\/p>\n
One way to look at this is to examine the volume <\/span>alongside<\/span><\/a> the price trend. At press time, CRV\u2019s volume had increased to 38.15 million. As mentioned earlier, the price action also followed in the same <\/span>direction<\/span><\/a>.<\/span><\/p>\n
Usually, rising volume on rising prices tends to bring about a likely price increase, and signals increased interest in a cryptocurrency. If the volume continues to rise and CRV doesn\u2019t fall to profit-taking, it is possible for the token value to rise toward $0.50 in the coming days.<\/span><\/p>\n
![\"Curve](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Curve-on-Ethereum-CRV-07.10.36-14-Oct-2023.png\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
No chance for sellers yet<\/b><\/h4>\n
Another way to assess if these sharks are making the right call is by looking at the activity on <\/span>exchanges<\/span><\/a>. According to Santiment, CRV\u2019s exchange inflow was 35,200 at press time. This metric is the number of tokens sent from non-exchange wallets into exchange addresses.<\/span><\/p>\n
On the other hand, the exchange outflow was higher at 55,500. The opposite of the inflow, the exchange outflow is the number of tokens sent out of exchanges. It is also noteworthy to mention that only one throughout the last week has the inflow outpace the outflow.\u00a0<\/span><\/p>\n
\nIs your portfolio green? Check the <\/span>Curve DAO Token Profit Calculator<\/span><\/a><\/p>\n
\n - With increasing volume and more exchange outflows, CRV\u2019s price action could improve.<\/em><\/li>\n<\/ul>\n
![\"Curve](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Curve-on-Ethereum-CRV-07.34.08-14-Oct-2023.png\")