The Curve DAO token (CRV) has caught the attention of crypto enthusiasts today. Despite the turbulence in the crypto market, accompanied by negative news, it rose more than 14% at one point.
Interestingly, the trigger for this CRV price action turned out to be the negative news itself.
Source: TradingView
Curve Finance, the focal point of all algorithmic stablecoins and profitable farming, is one of the beneficiaries of the SEC’s regulatory nightmare regarding stablecoins.
By filing legal action against Binance USD (BUSD) issuer Paxos, the SEC has inadvertently once again drawn attention to the DeFi space, in this case, decentralized stablecoins.
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Why choose Curve DAO (CRV)?
Curve Finance, the company that manages the protocol, or rather Curve DAO, is preparing to issue its own crvUSD in addition to providing access to the entire factory of stablecoin mining pools.
CVX, on the other hand, is a token that allows participation in decentralized autonomous organizations and the ability to influence decisions about protocol governance.
In addition to the Curve DAO token, the related Convex Finance (CVX) token, the Frax Share (FXS) token associated with the company that manages the algorithmic stablecoin of the same name, and the Maker DAO (MKR) token — the unstable stablecoin currency. DAI in the spotlight — also in the spotlight amid the recent turmoil.
- Curve 3pool Liquidity Decreases 90% YoY – Yearn Finance Allows Vault Creation To Receive Farm Curve Rewards
- Borrowing $58M to short CRV on Aave, here’s what to watch out for
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According to USA Today
