• Curve DAO (CRV) price spiked greater than 10% to hit highs of $0.35.
• The token’s worth is up 41% since hitting present all-time low amid current CRV liquidation disaster.
• Information exhibits whales have aggressively amassed CRV this week.

Curve DAO (CRV) price soared greater than 10% early Wednesday to achieve highs of $0.35.

Whereas the Curve Finance governance token’s worth stays within the pink over the previous week and month, immediately’s features have pushed CRV up 41% from its all-time low. The token reached this degree amid a liquidation disaster involving Curve founder Michael Egorov.

Curve price rebounds amid whale accumulation

CRV price fell sharply on June 13, dropping greater than 30% in an hour to hit an all-time low of $0.23. The sell-off got here after the Curve founder’s $141 million CRV-backed mortgage resulted within the liquidation of practically $100 million of his crvUSD mortgage.

Nevertheless, on-chain information additionally exhibits an enormous accumulation of CRV by whales this week.

Spot On Chain shared in a publish on X on June 19 that six whales have to this point amassed 55.26 million CRV price roughly $19.4 million.

The rise in whale exercise has come through the dip in CRV price “post-liquidation crisis,” Spot On Chain identified.

Of the six whales, 5 are first-time accumulators, which displays the surge in first-time CRV purchases recorded prior to now week.

Lookonchain has additionally famous that whales have purchased the dip following the CRV liquidation. Up to now 2 days, 4 wallets withdrew 42.4 million CRV price $14.9 million from Binance, Lookonchain famous.

CRV bounces alongside different altcoins

Notably, Curve DAO’s features come amid a broader altcoin uptick on the again of newest Consensys information.

Earlier immediately, Consensys introduced that the SEC has ended its investigation into Ethereum 2.0, information that noticed ETH price break larger. Altcoins akin to Lido DAO, Ethereum Identify Service (ENS) and Uniswap additionally surged.

Curve’s upside mirrored these broader market features.

With price up prior to now 24 hours, a flip in sentiment that cements a bullish outlook might see CRV break above its pre-liquidation degree. Based on information from CoinGecko, CRV traded above $0.41 on June 10 and above $0.50 in late Could.