Advertisement
AD

Main navigation

Curve (CRV) Trails Bitcoin in Epic Emission Slash: Details

Advertisement
Mon, 14/08/2023 - 12:10
Curve (CRV) Trails Bitcoin in Epic Emission Slash: Details
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Curve DAO (CRV) token has pulled yet another trick that may ultimately help its much-coveted recovery. As unveiled by the protocol, its annual emissions-slashing event has been automatically activated on-chain in a massive deflationary move. Based on the actual figures, the CRV emissions rate has now plummeted by 15.9%, as preprogrammed.

Advertisement

Related

Most projects in the Web3.0 ecosystem of today are positively tilted toward deflation as a crucial on-chain strategy to increase valuation over time. This deflation is typically implemented in two major ways, and it could either be through halving, as exhibited by Bitcoin (BTC), Litecoin (LTC) and other Proof-of-Work (PoW) protocols or via regular token burning, as is embodied by Shiba Inu.

Advertisement

Despite being a decentralized finance (DeFi) protocol, Curve has a preprogrammed schedule to reduce its emissions rate, and the implementation at this time appears quite strategic.

Curve (CRV) suffered a major exploit weeks ago, with the impact taking a significant toll on the token as it recorded a massive selloff. At the time of writing, CRV is still down by 31.59% over the past month, a decrease in valuation that the current deflationary sentiment may help to turn around.

Curve price outlook

Related

At the time of writing, Curve is changing hands at a price of $0.5829 after losing about 0.13% in the past 24 hours. Though the bearish sentiment is yet to totally fade off, there is a promising uptick in the 24-hour trading volume, which has inked as much as an 8% surge with a total of $49 million traded within that time.

Besides this current emissions slash, Curve has also implemented a number of drastic moves to help in reviving its price. One of these moves is the proposed launch of a new pool, which will offer its dedicated users more options to put their stablecoins to use.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD