Curve DAO Token (CRV) and Velvet (VELVET) have both seen significant price increases, driven by a combination of ecosystem developments and surging trading activity. CRV climbed approximately 10% over the past 24 hours, reaching a high near $0.272, while VELVET soared more than 60% to levels around $0.7170 before a pullback.
For CRV, the rally was supported by a 150% spike in trading volume, which pushed daily volumes above $90 million, and a market cap near $400 million. Technical analysts highlighted a critical support zone between $0.244 and $0.237; holding above that area could allow another test of $0.272, while a breakdown would weaken the structure and open the door to deeper corrections. Crypto analyst Guy mapped out several wave-based scenarios, with a first hurdle at $0.26–$0.27 and potential upside targets at $0.30, $0.35, and even $0.42–$0.45 if momentum continues. His invalidation level is near $0.197–$0.205.
A key catalyst behind CRV’s move was the launch of LlamaLend v2 gauges on August 6, which now distribute CRV rewards across three new lending pools inside Curve Finance’s decentralized lending markets. The gauges incentivize liquidity providers, potentially boosting deposits and borrowing activity. This update adds utility to the CRV token, though the long-term impact will depend on actual protocol revenue generated, as new emissions also increase token supply.
Meanwhile, VELVET’s explosive 60% gain came without a major protocol announcement. Instead, the move was fueled by a derivatives frenzy: volume surged over 600%, and open interest jumped 34.4% in a single hour, according to data cited by xdecow. The token also topped the Smart Contract category by daily gains on August 11, aided by speculation around the recently completed 2.7 million VELVET Big Gems airdrop. Although the snapshot was taken, claims had not yet opened, creating a “buy the rumor” dynamic.
VELVET hit an intraday high near $0.90 before retreating to $0.7170. Key levels to watch are $0.90 resistance and support at $0.60 and $0.50. The token’s roadmap includes a DeFAI Telegram bot, an AI-powered Prompt-to-Strategy system, and plans for chain abstraction and a dedicated Velvet Network, which could drive future utility if adoption follows.
Both tokens remain in technically sensitive positions. CRV must defend its $0.244–$0.237 zone and clear resistance at $0.272 to extend gains, while VELVET needs to reclaim $0.90 to target the $1.00–$1.10 area. A failure to hold current levels could see VELVET revisiting $0.50 or even $0.40 as leveraged positions unwind.
