Coinbase and Binance led a $6.88 million CRV withdrawal on May 29 marking high market activity.
Total CRV withdrawn from major exchanges reached $287 million since December 2024 signaling a trend.
CRV custody shifted to secure wallets showing rising confidence among holders and institutions.
Last week, Coinbase and Binance recorded the largest Curve DAO Token (CRV) outflows since early February 2025. On May 29, 2025, the total daily net outflow hit -$6.88 million, marking the biggest single-day outflow since February 1, 2025, when it reached -$9.22 million. Data from Coinglass reveals that cumulative centralized exchange (CEX) netflows for CRV have totaled -$287.7 million since early December 2024, when CRV's price surpassed $1. This significant activity raises the question: what factors are driving these substantial outflows in CRV?
Source: X Major CEXs Show Heavy CRV Outflows Amid Market Activity
Coinbase led the recent CRV outflows with $4.14 million withdrawn, followed by Binance with $3.25 million. Other exchanges, including Bybit, Kraken, and OKX, recorded smaller outflows ranging from $1.12 million to $1.54 million. This pattern reflects a broad trend across major centralized exchanges, showing a shift in the custody of CRV tokens.
The net outflows suggest that users may be moving tokens away from exchanges toward other storage solutions. Coin data indicates some of these outflows went to BitGo custody services, coinciding with a rise in CRV deposits into BitGo wallets during the same period. This movement implies a growing preference for more secure or institutional custody options among CRV holders.
Since December 2024, when CRV surpassed the $1 price level, netflows at centralized exchanges have been predominantly negative. The data reveals an overall withdrawal of CRV tokens from exchanges, accumulating to nearly $288 million. This trend signals a potential consolidation phase or increased confidence among holders to secure assets off-exchange.
Implications of CRV Spot Accumulation and Custody Trends
The trend of CRV moving out of centralized exchanges while being deposited into custodial services like BitGo highlights a shift in market dynamics. The transition from exchange wallets to custodial accounts could reflect institutional interest or strategic holding patterns. Such shifts often precede notable price movements, indicating a period of accumulation.
Strong CRV spot accumulation in 2025 supports this notion. As holders withdraw CRV from exchanges, it potentially reduces sell-side pressure, which can influence price stability or upward momentum. Market participants may interpret these movements as signals of confidence in CRV's long-term value proposition.
Additionally, the accumulation pattern aligns with broader DeFi and governance token trends where holders prefer secure custody to participate in governance or staking. This behavior can strengthen CRV's ecosystem engagement and reinforce its utility within the Curve DAO framework.
The ongoing outflows and custody shifts suggest that investors and users are preparing for strategic positions. This could impact market liquidity and volatility in the near term, making CRV a token to watch in 2025’s evolving DeFi landscape.
Data Sources and Future Monitoring
The information presented comes from Coinglass, a reputable data provider tracking CEX netflows and market activity. The platform shows detailed inflow and outflow statistics, supporting the analysis of CRV token movements across major exchanges.
On May 29, 2025, the netflow data specifically indicated an outflow of $6.88 million, which stands out as the highest daily net withdrawal since the $9.22 million outflow in early February 2025. The continued monitoring of such metrics will provide insight into CRV’s market behavior and investor sentiment.
As CRV continues to show strong spot accumulation and custody migration, the dynamics between exchanges and wallets remain critical. These factors contribute to price formation and trading strategies within the decentralized finance sector. Industry watchers should closely observe these trends to understand how token flows influence CRV's market positioning throughout 2025.
