CRV Short Squeeze – Here’s Why Curve DAO Token Prices Are Rising
The Curve DAO Token, CRV (or Curve DAO Token) price fell by 24% on Tuesday from $0.537 to $0.407 levels. However, CRV is currently trading in green after a major dip. Experts believe that whales may have planned a CRV short squeeze.
Whales plotting CRV short squeeze
According to reports, crypto whales ran out of CRV on exchanges. Whales borrowed Curve DAO Tokens from AAVE, Open Source Liquidity Protocol and then sold them on the exchanges.
The CRV price fell, so the whales borrowed more Curve AAO Token to sell on the AAVE. This was repeated over and over again. The CRV price was at its lowest limit and the whales switched to CEX. This price level is currently being identified as $0.40
To push up its price, however, the whales are buying CRV on exchanges. The AAVE positions of crypto whales will be liquidated. Due to limited on-chain liquidity, AAVE liquidation will bring down the CRV price.
Curve DAO Token skyrockets
Experts suggested that the CRV short squeeze had begun here. The price level can show when the AAVE liquidation will reach a pump.
In the last 24 hours, Curve DAO Token prices soared by 22%. At press time, CRV trades at an average price $0.602. Its 24 hour trading volume has increased by 733% to $425 million.
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