Curve DAO token is poised for a major rally as Curve Finance founder Michael EGOROVrecently bought CRV tokens worth $1.2 million. According to market experts, CRV price is holding at $1.10 and could rise to $2 and beyond. Additionally, demand for Curve DEX is growing as Ethena launches USDtb stablecoin. After a stunning 200% gain over the past month, CRV price has consolidated at $1.1 over the past week. However, recent purchases by Curve Finance founder could give the altcoin an additional boost, leading to the next leg of the major rally.
According to blockchain tracker Spot On Chain, Curve Finance founder Michael Egorov has made a significant buyback of CRV, purchasing 1.08 million CRV tokens worth around $1.2 million at an average price of $1.114. This is Egorovs first major purchase of CRV since the liquidation on June 13, indicating a restoration of confidence in the token. The buyback comes just as the price of CRV has seen some pullback to $1.0 over the past 24 hours, reflecting the volatility of the market.
The $1 million investment made by the founder himself shows strong confidence in the upside potential of CRV. Cryptocurrency market analysts are confident that as the price of Bitcoin reaches new all-time highs, capital will return to altcoins like CRV, setting the stage for a strong surge. Some market analysts believe that CRV will go through a period of short-term accumulation before it breaks out to higher levels such as $5.
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