CRV Crypto Price Prediction: Curve Dao Vs Hackers Who Will Win?

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1 On July 30, 2023 Curve Dao experienced an exploit of approx $62 million.

2 A loophole in vyper caused loss for Curve Dao investors.

3 CRVUSD has offered a 10% bounty to the hackers who stole over $60 million from the protocol

CRV crypto, was hit by a hacker who took around $62 million from it on July 30, 2023. The hacker exploited a flaw in the code that some parts of Curve DAO used. The flaw let the hacker repeatedly call the same function and drain money from the platform each time.

This attack scared many people who had money in Curve DAO and other platforms that work with it, such as Yearn Finance, Synthetix, and Compound. They took out their money quickly, which reduced the value of the online money market by about $1.5 billion. This affected the price and performance of Curve DAO and other platforms.

CRV crypto respond on Etherscan about the recent $62 Million loss from the protocol. They address that hackers are responsible for the recent exploit. Moreover, they have offered a 10% bounty to the hackers who stole over $60 million from the protocol, if they return the funds voluntarily by August 6. If the hackers do not cooperate, Curve Finance will expand the bounty to the public and pursue them legally.

Aave DAO member has proposed to acquire CRV crypto with USDT from the Aave DAO treasury, to support Curve liquidity and gain voting power. CRV has gained over 4% in the last 24 hours.

Curve Finance and Aave DAO are taking proactive and strategic steps to deal with the challenges and opportunities in the DeFi space. Both projects are showing their commitment to the DeFi ecosystem and their users, as well as their ability to adapt and innovate in a dynamic environment.

The price of CRV crypto is trading at the price of $ 0.57353239 USD. The coin’s price declined by -1.01% in the last 24 hours and -21.24% in the last 7 days. The current market capitalization is 505.269 Million with an FD market cap of 1.894 Billion. Furthermore, the last 24 hours’ trading volume is 126.467 Million and the last 10 days’ trading volume is 10.566 Million.

CRV Crypto Price Technical Analysis

CAPITALMARKETTIMES by shubhamsm006 on TradingView.com

CRV crypto price has been below 50 and 200 MA with a bearish crossover that shows the sellers’ power in the market. The market could drop more and enter a downtrend if the sellers keep pushing it down.

The RSI line is moving toward the oversold zone. The RSI line is around 29.72. The 14 SMA has a value of 37.62 points showing bearishness.

MACD is showing bearish signals. The MACD line is under the signal line and in the negative zone showing bearishness.

Technical Support and Resistance Levels:

Support – The current support level is $0.406111.

Resistance –The current resistance level is $0.879090.

Conclusion

CRV crypto lost $62 million to a hacker on July 30, 2023. Many people took their money out of it and other platforms. This lowered the value of the online money market. Curve Finance offered a bounty to the hacker or anyone who can find them. Aave DAO bought some CRV tokens with USDT to help it get more power. CRV, the token of CRVUSD, has been going down for a week. It has been below some key indicators. Crypto needs to fix the hack and the market to recover its value and trust.

Disclaimer

The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.