Curve DAO loses $0.30 support – Why CRV faces further downside risks

Curve DAO [CRV] recorded a sharp decline of 17.08% in the last 24 hours at press time, continuing to extend its recent decline as selling pressure intensified. Meanwhile, Spot trading volume surged 182% to $94.49 million, highlighting increased market participation during the sell-off. The rapid volume increase along with the declining prices together pointed to aggressive selling as opposed to renewed buying interest. Additionally, the derivatives analytics also revealed another concerning development as market participants reduced their exposure.