A generally followed analyst and trader leans Bullish on a decentralized finance (Defi) project built in the Ethereum (ETH) ecosystem.
The analyst, pseudonym known as credible crypto, tells his 467,000 subscribers to the social media platform X that it is “only logical” for the native token of the Defi Altcoin Curve Dao (CRV) to touch a new all time against Bitcoin (BTC) for the end of the cycle.
According to the pseudonym analyst and trader, CRV could rise by around 1,840% of the current level to reach a price of 0.00015 BTC.
CRV trades at 0.00000773 BTC ($ 0.739) at the time of writing.
Credible Crypto says that his bullish thesis for the Ethereum-based Defi project focused on the trade of Stablecoins is mainly informed by the improvement of the foundations, because CRV was the last one all time against Bitcoin in 2021.
“Well, apart from the technical means (which look fantastic), because the last time of all time high on CRV/BTC:
– Annual inflation of CRV has fallen from around 20% to 4%.
– The total amount of CRV locked (effectively burned) has increased to around 40% of all circulating CRV.
– [Total] The market capitalization of Stablecoin has risen by around $ 70 billion and climbing ($ 170 billion [then] versus $ 240 billion 1746193718).
– Curve launched their own Native Stablecoin CRVUSD, which is currently a market capitalization of $ 200 million.
– Curve launched their own loan/credit platform (such as Aave), which is currently locked $ 140 million in total value.
– Curve launched their own automated market maker (LLAMMA) to make new “soft liquidations” on their aforementioned loan platform possible.
-Setal Curve developers have almost doubled and developer problems are too all time. “
The General Analyst also says that it is not “unreasonable or illogical” for the Curve DAO/US Dollar purple to reach double digits in the current cycle.
“I am not sure what price BTC will be if this happens, but for $ 100,000 BTC a new all time is high on the CRV/BTC ratio CRV at $ 15+.”
Bitcoin acts at $ 96,597 at the time of writing.
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Generated image: midjourney
