CRV Soars 25%: Short Sellers Scream as Price Hits $1! 🎉💸

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Ah, dear readers, gather ’round as we regale you with the tale of Curve DAO, which, in a delightful twist of fate, has returned triumphantly to the fabled $1 mark! What joyous spectacle! A mere dalliance with the bull market has unfurled a veritable cornucopia of approximately $4 million in short liquidations—enough to make even the sturdiest bears shed a tear! 🐻💧

In the flamboyant bazaar that was last Thursday, July 17, our beloved CRV pranced about with a 25% price increase, gallantly trading at $1. But wait, there’s more! The trading volumes doubled, reaching a staggering $860 million, which surely sent ripples of excitement through the retail crowd. It appears they’ve finally awakened from their slumber, perhaps lured by the scent of profitability wafting through the air. 📈✨

But lo! The winds of fortune were not solely favorable for Curve DAO. Nay, the broader mania embraced the altcoins as well! With the legislative clouds parting in the U.S. during the seemingly illustrious “Crypto Week,” optimism soaked the market like rain upon parched soil. The result? A remarkable 70% gain for CRV over the past week, leaving the faded whispers of doubt in its wake.

O, what a climactic unravelling of fortunes! The bullish fervor incited an astonishing spurt of liquidations, peaking at a staggering $4.9 million within merely 24 hours, as reported by the oracle of crypto knowledge, Coinalyze. And naturally, the predominate among these—$3.9 million—were short positions, most of which took refuge on the hallowed exchanges of OKX and Binance. Oh, how the tables have turned! ⚖️💥

As fortune would have it, the pressures of panic-stricken short sellers forced them to cover their losses with CRV tokens, thus playing their very own part in what we affectionately dub a “short squeeze.” It seems poetic justice is ever so fond of a good laugh at the expense of the unwary! 😂

But, dear souls, could CRV ascend even beyond the illustrious $1? 🤔

After a fleeting flirtation with the psychological threshold of $1, CRV found itself mildly corrected to $0.9763—no doubt a mere misstep in an otherwise splendid performance. Yet, glimmers of hope reside within the tapestry of market sentiment. Curvemonitor reveals that a grand 60.19% of CRV tokens are currently enclosed in veCRV’s loving embrace. And let us not forget, 80% of these cherished tokens remain locked away until the distant shores of 2029.

This enchanting locking of veCRV, be it for a week or up to four years, bestows upon its holders a regal increase in governance voting power. It fosters loyalty among them and restricts the circulating supply like an exclusive club for only the most devoted! One might say CRV is standing on the precipice of greatness, ready to unfurl its wings and soar toward a promising horizon. 🦋💫

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2025-07-17 19:08