Curve DAO (CRV) Price Rebounds 41% from All-Time Low Amid Whale Accumulation

CRV price fell sharply on June 13, dropping more than 30% in an hour to hit an all-time low of $0.23.

Curve DAO (CRV) price It rose more than 10% to $0.35 early Wednesday morning.

While the Curve Finance governance token price is still down from last week and month, today's gains have pushed CRV up 41% from its all-time low . The token reached this level during a liquidation crisis involving Curve founder Michael Egorov. It dropped significantly, reaching an all-time low of $0.23. The sell-off comes after the Curve founder's $141 million CRV-backed loan led to a liquidation of nearly $100 million from the crvUSD loan.

However, on-chain data also shows that whales have accumulated large amounts of CRV this week. ##In a post shared on X on June 19, Spot On Chain said that six whales have accumulated 55.26 million CRV so far, worth approximately $19.4 million. He stated that the decline occurred "following a liquidation crisis." He stated that he bought the decline. In the past 2 days, four wallets withdrew 42.4 million CRV from Binance, worth $14.9 million. It comes amid a broader altcoin rally following recent Consensys news.

Earlier today, Consensys announced that the SEC had ended its investigation into Ethereum 2.0, and this news caused the ETH price to rise. Altcoins such as Lido DAO, Ethereum Name Service (ENS), and Uniswap also rose. A reversal of sentiment that solidifies its outlook could cause CRV to exceed its pre-liquidation level. According to CoinGecko data, CRV was trading higher than $0.41 on June 10 and $0.50 in late May. #

https://www.kdj.com/cryptocurrencies-news/articles/curve-dao-crv-price-rebounds-time-low-whale-accumulation.html

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