Curve DAO (CRV) Could Rally by 722%, According to CredibleCrypto

A widely followed analyst is leaning bullish on a decentralized finance (DeFi) token built in the Ethereum (ETH) ecosystem.

A widely followed crypto analyst is predicting huge gains for a decentralized finance (DeFi) token on the Ethereum (ETH) chain.

The analyst, known as CredibleCrypto, recently told his 449,900 followers on the social media platform X that, based on the risk-reward ratio, his “highest conviction” bet is Curve DAO (CRV).

According to CredibleCrypto, CRV could rally by at least 722% from the current price.

The token is trading at $0.852 at time of writing, according to CoinGecko. It has appreciated by over 70% in the past 30 days.

The analyst says that his bullish thesis for CRV is backed by the tokenomics of the DeFi altcoin and the technical analysis.

“You have a coin that has an emissions structure that is literally modeled after Bitcoin (BTC), but:

– has 40+% of the supply essentially locked in perpetuity

– generates real yield from working products which is paid out to token lockers multiple times a month

– currently has the highest developer activity + number of developers that have ever worked on the protocol in its history despite the depressed price.”

CredibleCrypto adds that Curve DAO has an advantage over Bitcoin in that, unlike BTC, the long-term holders of CR? can’t dump during the bear markets and worsen the price declines or take profits during the bull markets and curtail price appreciation.

“…with CRV, token lockers literally can’t sell into the pumps OR sell into the dumps because their tokens are locked (in most cases) for a minimum of 3.5 – 4 years.”

The pseudonymous analyst further says,

“Overall, aside from the clean technicals and chart setup, CRV, fundamentally, has all the markings of the next big success in this space that I think most are sleeping on because of either a lack of understanding of the mechanics behind the project or because of regurgitated, out-dated fear, uncertainty and doubt (FUD) that has been spread about the token during the last market downturn.”