Curved finance [CRV]DeFi’s current status in DeFi may have left its investors uncertain. This is because the total value is locked [TVL] of the Decentralized Exchange (DEX) has been very successful in the past seven days.
DeFi analytics platform, DeFillama noticed that there was a decline in the overall value of TVL with CRV which recorded a decrease of 7.05%. Compared to others, like Lido Finance [LDO]And Swap [UNI], the decline in the CRV was not terrible. In fact, the currency had rose 3.24% in the past 24 hours despite a significant drop in the cryptocurrency market overall.
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A recent report from Dune Analytics encouraged CRV investors to take note of some happenings. Dune Analytics reported that CRV’s performance was not encouraging on average in terms of the average volume share in the DeFi liquidity pool. Based on the reportthe CRV volume pool has shrunk realistically from the May 13 high.
Source: Dune Analytics
At press time, it was only a 19.5% volume share. The average volume of stable coins was, however, impressive with a share of 46.7%. Overall, the average volume of Daily DEX was worth $ 2.46 billion.
Another aspect that the report asked investors to look at was CRV issues. Dune noted that the reduced 15.90% incentive was distributed, thereby generating more revenue for the Liquidity Pools (LP) and providing operators with sufficient liquidity.
Source: Dune Analytics
While the volume pool data may not be what investors might expect, the issuance data offers some relief. Additionally, user metrics were considered an important factor to monitor. At press time, the CRV retention rate was on the rise after 17.6% of the cohort was used between June 6 and June 12.
Source: Dune Analytics
So how did this data affect CRV’s on-chain status?
Be careful again
Despite improving user retention, active addresses have declined in the past 24 hours. Although there was an increase between August 16 and August 18 in this regard, Santiment revealed that 24-hour active CRV addresses had dropped to 879.
Source: Santimento
Based on its price momentum, investors may still need to watch their excitement over the recent hike. This is because two leading indicators have signaled a possible drop in its price. First, it was the Relative Strength Index (RSI) that revealed bearish momentum with its value at exactly 32.00. The Moving Average Convergence Divergence (MACD) was below the midpoint of the histogram as seller pressure (orange) also remained above buyer momentum (blue).
Source: TradingView