The CRV token, a native asset of the Curve Finance decentralized finance platform, has recorded notable performance over the past 7 days.
Its price increased 123%, going from $0.48 to $1.06an escalation that sent the token back to top 100 of cryptocurrencies by market capitalization.
The decentralized exchange has maintained a steady stream of annualized revenue of 39 million dollars in the last 30 days, according to Token Terminal data.
In this way, it seems that investor confidence in its business model and interest in the protocol could be renewing, beyond the current escalation of the markets.
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Below is a graph provided by TradingViewwhich reflects the behavior of CRV in the last 7 days.
CRV price. Source: TradingView.
What’s behind CRV’s rally?
CRV’s takeoff in the market cannot be understood without considering the broader context that includes politics and Bitcoin (BTC).
The recent Donald Trump’s victory in the US elections has injected widespread optimism into the cryptoasset ecosystem.
Trump has promised measures that could transform the landscape of the sector, such as the creation of a Bitcoin Strategic Reserve and the elimination of capital gains taxes for cryptocurrencies issued by US companies.
Bitcoin and the altseason
Another factor that has contributed to the increase in CRV is the performance of bitcoin, which reached a historical milestone, surpassing the $100,000a fact reported by CriptoNoticias.
The rise of bitcoin, which often sets the market trend, has boosted many altcoins including CRV.
Added to this is the arrival of the altseason. This is a period in which altcoins, that is, cryptocurrencies other than bitcoin, experience a significant increase in their value and trading volume.
According to the Altcoin-season-index/” target=”_blank” rel=”noreferrer noopener”>Altcoin Season Index from Blockchain Center, which considers whether 75% of the top 50 coins have outperformed bitcoin in the last 90 days, We are currently in an altseason, with a rate of 80%as seen in the following image.
Altcoin Season Index. Source: Blockchain Center.
This context has been especially beneficial for tokens like CRV, which take advantage of the market enthusiasm to strengthen their position.
Innovations at Curve
Beyond external factors, Curve Finance has implemented key internal developments that strengthen its value proposition.
One of the most significant advances is the stablecoin launch Savings crvUSD (scrvUSD). This product allows users to generate income through payments made by those requesting loans in crvUSD, another Curve stablecoin.
The scrvUSD savings module is designed to scale crvUSD to the next level, providing users with a secure and transparent experience, the organization assures.
Unlike other stablecoins, Curve ensures that user funds are not used for other purposestrying to position scrvUSD as a more reliable option in the market.
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