A crypto analyst believes that two decentralized finance (DeFi) altcoins are poised for a major rally.
Curve and Convex Finance
The analyst, known as Credible, is bullish on Curve (CRV) and Convex Finance (CVX). Curve is a stablecoin exchange, while Convex optimizes yields for Curve tokens.
Catalyst for Rally
Credible believes that the liquidation of Curve founder Michael Egorov on June 13th has removed an overhang on the market.
Rally in Progress
Both CRV and CVX have already rallied since Egorov’s liquidation. CVX surged over 150% to $4.77 last week.
Price Targets
Credible predicts that CRV will follow CVX’s lead and rally. He sees potential for CRV to reach $2 and CVX to reach $15.
Current Prices
At the time of writing, CVX is trading at $3.30 and CRV is at $0.314.
