Over the past week, Curve [CRV] has maintained an upward trend.
Following a significant increase of 123.49% last week, the token has risen another 44.13% in the past 24 hours, making it one of the best-performing assets in the market.
Investor interest in CRV has been rekindled.
CRV's developer activity and total locked value (TVL) have both shown significant increases, indicating a resurgence of investor confidence.
Total locked value (TVL) is a key indicator of investor activity within the blockchain ecosystem. It reflects the amount of assets deposited and staked to support development and operations.
After several months of decline since September, CRV's TVL has rebounded significantly to $2.03 billion. This rebound marks a return to pre-decline levels, indicating that bullish sentiment in the market is strengthening.
The growth in TVL is consistent with the surge in developer activity. Increased developer engagement indicates that the CRV ecosystem is continually improving and innovating, which could drive positive price momentum.
This wave of buying activity is evident not only among ecosystem investors but also in the derivatives market, where traders are increasingly optimistic about CRV's prospects.
Derivatives traders are driving CRV up.
Derivatives traders are mimicking the behavior of investors by opening long positions in CRV, demonstrating strong bullish sentiment.
In the past 24 hours, the financing rate has surged significantly, reaching 0.0820% at the time of writing. This bullish data suggests an increasing number of long traders in the market.
The financing rate plays a crucial role in balancing the difference between the spot price of assets and their futures prices. As observed here, the rising financing rate indicates that buyers (long traders) are dominating market activity.
Open interest has also increased significantly, rising by 30.42% to $270.33 million.
This growth reflects an increase in the number of active buyers in the market, with open interest and sustained positions further driving the bullish outlook for CRV.
Increase CRV long positions.
Coinglass data shows that market long positions have increased, reflecting a growing optimism among traders.
At the time of writing, the long/short ratio has climbed to 0.9739, indicating growing interest from investors in CRV.
If this ratio exceeds 1, it could provide further support for CRV prices to continue rising, especially as investor and derivatives trader activity continues to strengthen.
