Curve DAO (CRV) has extended its weekly gains to 145% after surging by more than 40% in the last 24 hours.
Tuesday’s announcement of the launch of Curve’s stablecoin ScrewUSD on Spectra triggered an ongoing bullish wave.
Yield markets are very important, and crvUSD for savings @Spectra_Finance one of the first to go up
news.curve.fi/spectra-financ…
Curve DAO is a DEX for stablecoins that uses AMMs (Automated Market Makers) to control liquidity.
Meanwhile, its newly launched Savings-CRVUSD yield-bearing stablecoin went live on the Spectra network yesterday.
Savings-CRVUSD provides low-risk investor returns and assists in CRVUSD scaling, attracting more participants to the Curve platform. Recent Announcement Indicated:
Spectra uses Curve’s CryptoSwap AMM algorithm, where CurveDAO earns 50% of all fees generated by liquidity pools on Spectra. Spectra is an example of Curve’s AMM being used in the yield-trading ecosystem, a part of DeFi popularized by Pendley.
Launched on December 3, stablecoin SCRUSD has gained notable popularity, attracting deposits of over $14.5 million.
The new product crvUSD underscores Curve Finance’s dedication to increasing stablecoin adoption and scalability.
By integrating ScrvUSD into the Spectra Network, the DEX aims to bring decentralized finance (DeFi) products and more users onto the CRV blockchain.
crv price display
The token is trading at $1.19 after gaining more than 40% in the past day. It touched a daily low of $0.8512 and a 24-hour high of $1.21.
Strong daily trading volumes, up 35% within the past day, suggest a healthy environment for continued growth.
In addition to stablecoin growth, on-chain statistics support the altcoin’s upward trend.
CRV stakes have increased from $445.3 million on November 27 to $839.3 million on December 4 – the highest level since June 2022.
The increasing stake confirms that more players are actively engaging with the Curve blockchain, highlighting the growing adoption.
Furthermore, the CRV chain is experiencing increased liquidity and trader interest.
According to Artemis data, Curve’s 24-hour trading volume surged to $1.6 billion yesterday, a value not seen since the asset’s 2020 launch.
CRV eyes another 33% increase
In the latest bounce, CRV broke the falling trend line formed by connecting multiple weekly peaks from July 2022.
The bullish momentum accelerated earlier this week, leading to a gain of more than 145% year to date.
CRV reclaimed the 50% FIB retracement mark of $0.88, and bulls aim to retest the July 2022 peak at $1.58.
Achieving this target would mean a price increase of 32.77% from current prices.
Nevertheless, caution remains paramount as the Relative Strength Index at 83.43 (on 4H chart) confirms overbought conditions.
This exposes the CRV to a potential decline before the anticipated high.
Meanwhile, the ongoing altcoin season suggests that any decline may be short-lived.
The Alt Season Index has reached levels not seen since 2022, indicating continued outperformance in the altcoin sector.
Very good. This is the highest level of the Altcoin Season Index since 2022. We’ve been waiting for this for years!
The broader market has displayed significant optimism since Donald Trump’s victory.
Current sentiments favor an uptrend in digital assets in the coming months.
Post Curve Finance price rises with ScrevUSD launch on Spectra first appeared on Invez
