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Curve Stablecoin

Curve Finance Stablecoin Announcement Leads To Curve Price Surge

Curve DAO (CRV), the native cryptocurrency of Curve Finance, surged 22% on July 22. One of the notable reasons behind CRV’s performance is the fact that the founder of Curve Finance, Michael Egorov, recently confirmed that the company is getting close to launching its own stablecoin.

This announcement helped CRV rise above rival DeFi projects that own stablecoins.

Curve
CRV/TetherUS 1D (From: CoinMarketCap)

After ending June at $0.66, the crypto struggled to gain any real traction in the market. The fact that CRV is currently trading at $1.46 serves as proof that the stablecoin announcement has a huge impact on its price movement.

Related : UK Government Stablecoin Adoption Rules

Although CRV has risen, it has a long road ahead of it to reach all-time highs in 2020

Additionally, after this upgrade, the TVL information in CRV DEFI has been updated. After the stablecoin announcement, CRV is still the market leader with a 9.7% share.

Looking at the overall picture, CRV had a successful month compared to other crypto assets, increasing 92% during this period. Such a performance in such a period, while giving confidence to its old investors, also brings new investors into the game.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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