The DeFi altcoin Curve (CRV) is having a great week, surging 30% while the rest of the crypto market struggles. This jump comes after Curve announced a major cut in its emissions, a move that could make the coin more valuable.
A Big Birthday for Curve
Curve, a DeFi protocol that helps users swap between stablecoins, is celebrating its fourth birthday with a massive emissions reduction. This means that the amount of new CRV tokens being created is significantly reduced. Curve says this is modeled after Bitcoin’s halving events, where the rate of new Bitcoin creation is cut in half.
Curve’s emissions have been steadily decreasing over the past three years, but this latest cut is the biggest yet. It brings the total emissions down from 20% to just 6%. This move essentially ends all emissions except for those distributed to the Curve community.
Community-Driven Emissions
Curve’s “community” emissions are given to users who contribute to the protocol’s liquidity pools. These emissions are designed to incentivize users to keep their tokens on the platform.
While the total emissions have been reduced, the community emissions are still scheduled to continue for centuries. The rate of these emissions will decrease over time, similar to Bitcoin’s halving events.
Coinbase Adds Support for CRV
The news of Curve’s emissions cut seems to have caught the attention of major crypto exchanges. Coinbase, one of the largest exchanges in the US, recently announced it would be adding support for CRV, along with two other DeFi tokens, yearn.finance (YFI) and Synthetix (SYN).
CRV Price Surges
Following the emissions cut and Coinbase’s announcement, the price of CRV has jumped significantly. It’s currently trading at $0.323, a 5.5% increase in the last 24 hours. This is a big jump from its price of $0.245 just a few days ago.
What’s Next for CRV?
The future of CRV is uncertain, but the recent emissions cut and Coinbase listing suggest that the coin could be on the rise. It’s important to remember that cryptocurrencies are a volatile investment, so always do your research before investing.
