CRV Token Surges 16% Amid Supply Squeeze, Whale Accumulation, and DeFi Sector Rally

CRVUSDT has experienced a notable price increase of 16.10% over the past 24 hours, with the current price at 0.9447 USDT according to Binance. This surge is primarily attributed to a significant supply squeeze, as large withdrawals of CRV from exchanges have reduced available supply and signaled increased investor holding. The move coincides with a broader rally in the DeFi sector, heightened trading activity, and bullish technical signals, including a breakout from a descending triangle pattern. On-chain data shows a high concentration of CRV held by large investors, further supporting the upward momentum.

Market activity has been robust, with 24-hour trading volume on Binance reaching 142.19 million CRV and the token’s circulating supply at approximately 1.37 billion. CRV’s market capitalization stands around $1.33 billion, reflecting strong interest and positioning it among the top 100 cryptocurrencies.