Blockchain data suggests Manifold quietly accumulates CRV tokens
A wallet believed to be tied to the firm recently transferred $2 million in USDC to Binance and swiftly withdrew 3.14 million CRV tokens — indicating an average purchase price of around $0.63 per token. Despite the buy-in, CRV is currently trading at $0.58, slightly below Manifold’s estimated entry point. The token’s market capitalization now stands at $795 million, far from its January 2022 peak of $2.39 billion when it traded at $5.34.
Analysts eye CRV consolidation phase
Due to token inflation, analysts estimate that CRV would need to hit at least $1.79 to reclaim a comparable market cap high. While Curve continues to face headwinds, the move by Manifold signals potential long-term confidence in the protocol, even as the broader DeFi sector remains under pressure.
Alexander Stefanov
With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.