A 19x Rally for This Ethereum-Based Altcoin Against Bitcoin by End of Cycle Is ‘Only Logical,’ Says Analyst
A largely followed analyst and merchant is looking optimistic about a decentralized financing project (DEFI) built in the Ethereum (ETH) ecosystem.
The analyst, known pseudonym under the name of credible crypto, tell Its 467,000 subscribers on the social media platform X that it is “logical only” for the native token of the Defi Altcoin Dao (CRV) curve to reach a new top all time against Bitcoin (BTC) before the end of the cycle.
According to the pseudonym analyst and merchant, the CRV could increase by around 1,840% compared to the current level to reach a price of 0.00015 BTC.
CRV is negotiated at 0.00000773 BTC ($ 0.739) at the time of the editorial staff.
Credible Crypto claims that his upward thesis for the DEFI project based on Ethereum focused on the Stablecoins trade has been mainly informed by improving fundamental principles since the CRV has reached a record level against Bitcoin for the last time in 2021.
“Well, apart from the techniques (which seem fantastic), from the last level of all time on CRV / BTC:
– Annual inflation of the CRV increased from around 20% to 4%.
– The total quantity of locked CRV (actually burned) increased to around 40% of all circulating CRVs.
– [Total] Stablecoin market capitalization has increased by around $ 70 billion and climbing ($ 170 billion [then] VS 240 billion dollars 1746178722).
– Curve has launched their own indigenous Stablecoin Crvusd which is currently at 200 million dollars.
– Curve has launched its own loan / loan platform (like Aave) which is currently at $ 140 million in total locked value.
-Curve has launched its own automated market market (Llamma) to allow new “soft liquids” on their loan platform mentioned above.
– The number of curve developers has almost doubled and developers' commitments are at peaks at all times. »»
The widely followed analyst also indicates that it is not “unreasonable or illogical” for the DAO / US dollar curve pair to reach the two -digit price levels in the current cycle.
“I do not know at what BTC price will be the case where it will happen, but at $ 100,000 BTC, a new record of all time on the CRV / BTC ratio is CRV at $ 15 +.”
Bitcoin is traded at $ 96,597 at the time of the editorial staff.
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