Curve is a decentralized exchange that uses AMM to manage liquidity across the platforms. It has gained solid attention by following its remit for stablecoin trading. On Curve Finance, the inflation tokens go to the users who provide liquidity. This usage is measured with gauges.
These liquidity gauges measure how much liquidity a user is providing. For a gauge to be able to receive CRV emissions, it must be added to the gauge controller. Meanwhile, Curve exists across several chains, with Ethereum being its primary chain.
Source: curve.fi
The CRV token has a total supply of 2.1 billion, of which 62% is allocated to the community while 30% is allocated to the shareholders. This token is used to incentivize liquidity providers and lending markets.
Meanwhile, the Curve Pool creation interface allows anyone to create a Curve Pool with various assets. Let’s have a look at Curve’s on-chain data.
Curve Dao Net Revenue Declines With Overall Profit
Curve Caters to anyone involved in Defi activities such as yield farming, liquidity mining, and more. The platform observed a net deposit of over $1.25 Billion in May, which declined by 9% from the previous month. The platform’s trading volume was around $5.54 Billion, which is 27% less than the previous month.
Source: Curve TVL By Artemis
Curve Dao observed a fee collection of over $1.46 Million in May 2024, which has declined by 26% from the previous month as per the token terminal. It has collected a supply side fee of $736k with a total expenses of $6.03 Million in terms of expenses and incentives. The total earnings of the Curve platform were around -5.3 Million in the previous month, as per the token terminal.
Source: Curve Dex TVL by DefiLlama
Curve DEX tota value locked (TVL) has seen no significant change since the start of 2024 and is near $2.06 Billion. Meanwhile, Curve LlamaLend has a TVL of $162 Million and has observed a strong gain in the last few months. Let’s look at the price action scenario of the CRV token.
Will the CRV Token Price Test Its All-Time Low?
Ritika_TCR on TradingView.com
Curve Dao has a market cap of $509 Million and is ranked 134th in the cryptoverse. A gain of 134% in volume was recently observed, with a VM ratio of 0.2. The CRV token price is currently trading near the value of $0.4119, with a drop of 10% in the intraday session.
The CRV token price formed bullish, engulfing candles on the daily chart. It is trading below the 50 and 100 EMA on the daily chart. The downside trend of the CRV token price can see support near the value of $0.35. Meanwhile, the upside trend of the asset price can see a halt near $0.5
The RSI of CRV is near 36, with a negative slope suggesting its presence in the oversold zone. The overall sentiment of the RSI is bearish.
Conclusion
Curve Dao has been seeing a decline in overall revenue and active users. Curve Dex TVL has remained constant for the last one year. The CRV token price has recently seen a major dip but can see a recovery in the near future.
Disclaimer
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