CRV surges 500% to $1.33: The Curve DAO Token (CRV) experienced a remarkable price surge, increasing by 500% to reach $1.33 by early December 2024. This rally marked its highest level in 22 months. The increase is attributed to the launch of a yield-bearing stablecoin, scrvUSD.

Price retreats post-rally by 7%: Following its significant rally, CRV underwent a 7% price correction. Despite this decline, CRV maintained a strong daily trading volume of $635 million and saw a notable rise in open interest, highlighting sustained investor interest in the token.

ScrvUSD boosts CRV; offers 13% APR: The recent launch of scrvUSD, a stablecoin linked to Curve Finance, has played a KEY role in CRV’s price dynamics. Offering a 13% annual percentage rate, it quickly achieved a $20 million market cap, demonstrating strong investor appeal and supporting CRV’s robust performance.