Curve DAO (CRV) is showing renewed bullish momentum as on-chain data reveals tightening supply and growing whale interest. After a minor dip on Wednesday, the token still holds a 6% gain over the past week, buoyed by declining exchange balances and accelerating accumulation among large holders.
Exchange supply tightens, whales accumulate. According to Santiment, the percentage of CRV’s circulating supply sitting on exchanges dropped to 11.87% from 12.34% recorded on June 17. Lower exchange reserves typically signal reduced selling pressure. Meanwhile, the combined holdings of the largest wallets rose to approximately 1.38 billion CRV, up from 1.37 billion on June 10, indicating steady whale accumulation. Additionally, the proportion of CRV supply in profit surged from 4.20% to 6.21% in a single day, and the network surpassed 100,000 holders—highlighting growing adoption despite broader market volatility.
Derivatives show cautious retail interest. CoinGlass data reveals that CRV futures open interest dipped 1% over the past 24 hours, suggesting traders are trimming leveraged positions. However, funding rates remained positive at around 0.0062%, signaling that long-position traders are maintaining their bullish bets.
Technical setup targets $0.2232 breakout. CRV has reclaimed its 50-day Exponential Moving Average (EMA) at $0.2129 and could soon retest the $0.2232 resistance. A decisive daily close above that level would confirm a breakout, opening the door toward $0.2608—a roughly 17% upside. The next major hurdle lies at the 200-day EMA of $0.2814. Momentum indicators support the bullish case: the RSI climbed to 59, staying below overbought territory, while the MACD’s rising signal line and expanding histogram suggest buyers remain in control. On the downside, failure to defend the $0.2129 support could push CRV toward $0.1933.
