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Curve DAO (CRV) token has surpassed expectations with a bullish reversal due to positive developments. Even so, this remarkable feat fades when you consider CHMPZ, which is making headlines already, and analysts show optimism.
Binance Labs Bolsters Curve DAO Token with $5M Investment
Binance Labs, the venture arm of Binance, has announced a significant investment of $5 million in Curve DAO token, a pivotal component of the Curve ecosystem.
We’ve invested in @CurveFinance‘s CRV token with our full commitment to collaborate with the protocol and shape the future of the DeFi sector together.
Read more👇https://t.co/39q08pqwUF
— Binance Labs Fund (@BinanceLabs) August 10, 2023
The collaboration entails Binance Labs’ unwavering commitment to bolstering the CRV token. The token is central to the burgeoning decentralized finance (DeFi) landscape. In a strategic move, Binance Labs will actively facilitate the integration and deployment of Curve onto the BNB Chain. Such a move would catalyze the expansion of the BNB Chain’s DeFi ecosystem.
The Curve is renowned as the foremost stable swap protocol and the second-largest decentralized exchange (DEX). It boasts an impressive total value locked (TVL) of approximately $2.4 billion, alongside a robust daily trading volume of $215 million. With this infusion of capital and support from Binance Labs, Curve is poised to fortify further its position at the forefront of DeFi innovation and engagement.
Aave Community Acts to Mitigate Curve DAO Token Risk
The Aave (AAVE) community is proactively countering risks tied to Curve DAO token exposure. With two proposals open for voting from August 10, these measures aim to protect the lending protocol against vulnerabilities stemming from Curve Finance founder Michael Egorov’s substantial borrowing. If you missed it, Egorov staked over 30% of CRV’s market cap for loans on Aave v2. This was until a recent Curve Finance hack decreased CRV’s value, endangering Egorov’s position.
⚠️ Today, Aave $AAVE token holders initiated voting on two governance proposals as a response to the potential systemic liquidation risk brought about by the substantial borrowing position of Michael Egorov, the founder of Curved $CRV, within the lending protocol -… pic.twitter.com/WNpyefxpRj
— BecauseBitcoin.com (@BecauseBitcoin) August 10, 2023
The voting process, set to conclude on August 13, encompasses two critical proposals. One proposal seeks a 6% reduction in CRV’s Aave v2 liquidation threshold, potentially increasing liquidations. Another aims to disable CRV borrowing on Ethereum and Polygon v3, curbing shorting through Aave. Almost 720,000 votes support exposure reduction, pointing to approval by a landslide.
Concerning Egorov’s loan, Aave Chan founder Marc Zeller proposes Aave Treasury’s $2 million CRV token purchase from Curve. 62.91% of community members are in favor. Curve Finance’s recent breach led to vulnerabilities in Vyper programming, prompting an on-chain conflict between hackers. Curve Finance initiated a bug bounty to identify the attacker.
The focus on this news may have somewhat overshadowed another positive advancement linked to Binance Labs’ investment. This has contributed to a consolidation phase for the CRV token.
CRV Price Analysis
The daily price chart analysis of the CRV/USD trading pair reveals the emergence of a Double Bottom Pattern. This is at the $0.4752 support level. This pattern indicates a potential reversal with significant upwards movement, projecting gains of approximately 165% to reach around $1.60. The realization of this scenario is contingent upon adherence to the double bottom pattern.
Regarding technical indicators, the Awesome Oscillator histograms are situated below the zero line yet display a green color. This suggests developing buying pressure. Concurrently, the Relative Strength Index (RSI) has recently breached the oversold region, implying a possible price reversal. However, positioning the higher Exponential Moving Average (EMA) above, the lower EMA suggests a prevailing selling trend.
Completing the double bottom pattern would entail encountering initial and secondary resistance levels at $0.8799 and $1.3017, respectively. Conversely, a critical support level resides at $0.4752.
Amid conflicting fundamentals and technicals, entry points are uncertain for CRV. Meanwhile, another crypto project shows clear upside potential.
Alternative to CRV
Chimpzee emerges as a revolutionary concept that offers financial opportunities. It also champions the cause of environmental preservation and animal welfare.
The Chimpzee coin, CHMZ, auctions for $0.00085.The project is in its ninth stage, with only a week until the subsequent price increase. A staggering 1,875,651,973 CHMPZ tokens have been successfully sold. Meticulous thought has been given to the project’s tokenomics, encompassing allocations for charitable initiatives, community incentives, and the advancement of products.
A variety of NFT passports are made available within the Chimpzee framework. This boosts income, increases prizes, and provides access to special features only available within the Chimpzee community. The passports, which come in Diamond, Gold, Silver, and Bronze varieties, are designed to maximize participation and enthusiasm from users. The #Chimpzee world is revolutionary, full of amazing things and thrilling experiences. The project has three potential revenue streams.
Chimpzee Shop — Where you can Shop to Earn; NFT Marketplace — where you can Trade for Earning and Play-to-Win Rounds of the Zero Tolerance Game
The #Chimpzee universe is a game-changer, brimming with remarkable elements and exciting adventures!🌍🎁
🛍️Embark on a journey through the #Chimpzee shop!🌳
🎉Explore our #NFT Marketplace!💎
🎯Engage in the Zero Tolerance Game!🎮Buy your $CHMPZ now!⬇️https://t.co/Geog3EVuMC pic.twitter.com/wi8vrNu560
— Official Chimpzee Project (@RealChimpzee) August 10, 2023
With each stride of 200,000 milestones, Chimpzee will burn a billion tokens, sparking a surge in the value of $CHMPZ tokens. Additionally, the platform provides a bonus offer to claim additional FREE $CHMPZ tokens and allows buyers to escalate their earnings!
🌟Join the #Chimpzee Challenge to burn 10B tokens and cut supply below 50B!🔥
🔥 #Chimpzee will be burning 1B tokens with each 200K milestone!
🚀 Boosting the value of $CHMPZ #Tokens!
Grab the current bonus for extra FREE $CHMPZ tokens! 🎉
💰 $150 + = 178,471
💰 $250 + =… pic.twitter.com/jrPudxZC0q— Official Chimpzee Project (@RealChimpzee) August 10, 2023
Chimpzee: Profiting and Promoting Environmental Well-being
Chimpzee is a robust platform that enables its users to make money and contribute to environmental well-being. Thanks to its clever methodology and unwavering passion for promoting good development, this is via an innovative endeavor.
🌎🌱 Ready to…
Champion Earth’s well-being? 🌱🌍
Rescue animal friends? 🐘🦌
And generate earnings simultaneously?💰🌟
If your response is a resounding YES!✅
Then come aboard the 9th Stage of the #Chimpzee #Presale right away!🚀🌟https://t.co/Geog3EVuMC#GreenCrypto pic.twitter.com/EsVjk0DIIY
— Official Chimpzee Project (@RealChimpzee) August 11, 2023
Only eight days remain before the epic Stage 10 of the Chimpzee Presale event. This will usher in a new and exciting era in cryptocurrencies. Investors and fans alike prepare for the culmination of this extensive presale journey.
🐵🚀Attention #ChimpzeeArmy!🦍
Just under 8 days left until the curtain rises on the grand Stage 10 of the #Chimpzee #Presale!⏳
➡️Present Value – $0.00085
🚨Stage 10 Rate – $0.00095
💰Future Listing Price – $0.00185This is your moment!⭐️🌌
https://t.co/Geog3EVuMC pic.twitter.com/jLY9kGEdXc— Official Chimpzee Project (@RealChimpzee) August 11, 2023
Nonetheless, Chimpzee shines as a guiding light in a world seeking financial success and ecological harmony. This allows people to prosper monetarily while advocating for the planet’s well-being. This extraordinary confluence inspires confidence and will enable consumers to feel they are contributing to a revolutionary cause.
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