Is It A Good Idea To Buy Curve Now? Here’s What This Founder Thinks
31 Luglio 2023 - 5:00PM
NEWSBTC
In the wake of a massive exploit, the price of the Curve (CRV)
token has declined drastically, recording double-digit losses in
the last day. This has led to what some would call an opportunity
to buy cheap coins and Matrixport and Bitdeer founder Jihan Wu is
one of the believers. A Good Time To Buy Curve (CRV)? Jihan Wu
recently tweeted that he bought the CRV dip. According to Wu, he
remains a strong believer in the token because of its future
applications. Wu’s tweet comes at a time when Decentralized Finance
(DeFi) platform Curve DAO’s native token CRV has been down by more
than 12% in the last 24 hours. This dip came following an exploit
in some of Curve’s stablecoin pools. Related Reading: Here’s
How Long The Majority Of New Ethereum Wallets Are Used Before
They’re Dumped The exploit on the protocol reportedly occurred due
to a bug in the Vyper programming language, which is used to power
part of the DEX’s ecosystem. Despite this occurrence, Wu
believes that this is a good time to invest in the CRV tokens as
these tokens will play a significant role in the coming RWA (Real
World Assets) wave in reference to the tokenization of physical
assets. “In the coming RWA wave, $crv is one of the most important
infrastructures. I have BTFD. NFA,” the founder said in the tweet.
Without a doubt, the tokenized industry is growing and boasts
immense potential. Last year, a World Economic Forum survey
projected the tokenized assets industry to account for almost 10%
of the global GDP by 2027. The tokenization of real-world
assets will involve bringing physical assets like houses, arts, and
precious metals on-chain. This will undoubtedly provide easier
access and promote fractional ownership of these assets. CRV
price declines over 14% following exploit | Source: CRVUSD on
Tradingview.com As Wu has highlighted, DeFi protocols like Curve
and tokens like CRV will play an integral role in facilitating
transactions involving the transfer and trade of these tokenized
assets. DeFi Security Remains A Stumbling Block The several
exploits on DeFi protocols continue to remain a huge problem in the
DeFi ecosystem and something which many consider a stumbling block
to the wider adoption of DEXs over CEXs by many crypto users.
Recently, Curve Finance’s Omnipool platform, Conic Finance,
suffered an exploit that resulted in the hacker stealing over $3
million in Ether. Related Reading: Ahead Of The Pack: Binance Moves
Forward With New License in Dubai A report from Web3 portfolio app
De.Fi found that over $204 million was lost to hacks and exploits
in the DeFi ecosystem in Q2 of 2023 alone. The number of incidents
(117) in Q2 this year translated to an “almost 7 times” increase in
comparison with Q2 of 2022 (17 incidents). According to the
report, over $665 million have been lost to such exploits this
year. And these breaches further highlight the need for DeFi
protocols to implement enhanced security mechanisms on their
platforms. Featured image from The Coin Republic, chart from
Tradingview.com
Grafico Azioni Curve DAO Token (COIN:CRVUSD)
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Grafico Azioni Curve DAO Token (COIN:CRVUSD)
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