Curve DAO (CRV) has continued to decline recently. Here’s what on-chain data says regarding if a rebound is probable for the coin anytime soon.
What Curve DAO Metrics Hint At Regarding Futures Price Action
In a new insight post, the on-chain analytics firm Santiment has recently discussed how the underlying metrics related to CRV have looked. The first relevant metric here is the “Supply Distribution,” which tells us the percentage of the Curve DAO supply each investor group holds.
In particular, the cohort of interest here holds between 10,000 and 100 million tokens of the asset. This is an extensive range covering the likes of the sharks and whales.
Here is a chart that shows the trend in the holdings of this CRV group over the past year:
As displayed in the above graph, the indicator’s value has shot up recently, implying that sizeable Curve DAO investors, such as the sharks and whales, have sharply expanded their reserves.
About two weeks back, these holders had been carry
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