Curve [CRV] Deep-throated investors should check this data because…

curve financing [CRV]s current status in DeFi may have left its investors in uncertainty. This is because the total value is locked [TVL] the Decentralized Exchange (DEX) has taken a big hit in the last seven days.

DeFi analytics platform, DeFillama written down that overall TVL has decreased, with CRV decreasing by 7.05%. Compared to others such as Lido Finance [LDO]and Uniswap [UNI], the CRV drop wasn’t terrible. In fact, the coin had flooded 3.24% in the last 24 hours despite a significant decline in the crypto market as a whole.

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A recent report by Dune Analytics encouraged CRV investors to take note of a few events. Dune Analytics reported that CRV’s performance was not encouraging on average in terms of its average volume share across the DeFi liquidity pool. Based on reportthe CRV volume pool had realistically declined from its May 13 peak.

Source: Dune Analytics

At the time of going to press, it was only 19.5% by volume. However, the average stablecoin volume was impressive with a 46.7% share. Overall, the average daily DEX volume was $2.46 billion.

Another aspect the report urged investors to consider was CRV emissions. Dune found that the 15.90% down incentive was distributed, generating more revenue for Liquidity Pools (LP) and providing traders with ample liquidity.

Source: Dune Analytics

While the volume pool data may not be what investors were expecting, the issuance data offers some relief. Additionally, user metrics were seen as an important factor to monitor. At press time, the CRV retention rate was on the rise, having used 17.6% of the cohort between June 6 and June 12.

Source: Dune Analytics

So how has this data impacted the on-chain status of CRV?

Still cautious

Despite the improvement in user retention, active addresses have declined over the past 24 hours. Although there was an uptick in this regard between August 16th and 18th, Santiment is uncovered that 24-hour CRV active addresses had dropped to 879.

Source: Santiment

Due to the price momentum, investors may have yet to watch their excitement over the recent uptrend. This is because two main indicators signaled a possible price drop. First, it was the Relative Strength Index (RSI) that showed bearish momentum at exactly 32.00. The Moving Average Convergence Divergence (MACD) was below the midpoint of the histogram as seller pressure (orange) also remained above buyer momentum (blue).

Source: TradingView

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