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The price of Curve DAO (CRV) has risen 46% in the past 24 hours as a whale plot to short the altcoin backfired and led to a squeeze. CRV is currently up 5% in a week and down 31% in a month as the short seller undermined its price for more than a week before its recovery over the past day.

The seller in question appears to be Avraham Eisenberg, the same individual responsible for October short selling attack on mango markets. However, there is now speculation as to whether Eisenberg’s main objective was to short CRV or to attack Aave, which apparently lacks the cash to cover the short CRV positions it had opened.

Curve Price Prediction as CRV Surges 40% in 24 Hours – Here’s Where It Heads Next

Looking at CRV’s chart, its relative strength index (purple) has spiked over the past few hours, indicating strong upside momentum. However, its 30-day moving average (red) remains below its 200-day average (blue) and currently shows no signs of rising.

However, with both indicators remaining low, this could signal an incoming rally, which is obviously suggested by the sudden jump in the past day.

CRV’s rally the day before is largely an offset to last week’s dips. On November 10, the CRV price was around $0.713, but it fell to $0.407171 yesterday, following the opening of a large short position by Avraham Eisenberg (aka ponzishorter.eth).

The simplest interpretation of CRV’s price action is that its community started buying the altcoin in an effort to create a short squeeze, which would force Eisenberg to buy more CRV as collateral to preserve his position. short. This interpretation assumes that Eisenberg is only trying to shorten CRV and does nothing else.

This could indeed be true, but some analysts have suggested that Eisenberg’s real target is Aave, from whom he borrowed CRV and opened his position. Specifically, Eisenberg is aware that Aave lacks sufficient cash to buy out his short position in CRV, thus liquidating it.

According to analyst firm Arkham, Aave only has 20% of the cash needed to liquidate Eisenberg’s short position. His opinion is that Aave’s inability to buy back the position will damage the DeFi platform, in that it will have to sell other tokens (likely AAVE) to make up the shortfall.

At the moment, however, AAVE is up 8% in the last 24 hours, which undermines this theory. Additionally, reports suggest that Eisenberg was still selling CRV short yesterday.

As such, it’s hard to say exactly what’s going on right now. Either way, it looks like some sort of short squeeze is currently underway when it comes to CRV, so it’s likely to continue rising in the near term.

Less complicated altcoins

While the potential for additional CRV gains may be high at this time, some traders may prefer not to wade into the murky waters created by this apparent short attack (whether in fact on CRV or AAVE). As such, other altcoins may be more desirable, with pre-sale tokens ranking among the most profitable investments this year.

In effect, some pre-sale pieces increased by more than 1000% when they went public this year, and although the market remains largely sluggish at the moment, the opportunity to invest early in a promising project seems to be motivating many traders.

In light of this, we’ve rounded up three coins holding their pre-sales right now, each benefiting from strong fundamentals.

Trade Dash 2 (D2T)

Based on the Ethereum blockchain, Dash 2 Exchange is a trade intelligence platform where investors can access real-time analytics and social trading data to help them make more informed trading decisions.

Launch in the first quarter of 2023, the sale of its native D2T token has already raised over $6.8 million. He also announced listings on BitMart and LBANK Exchange for early next year, confirming that investors will indeed have the ability to secure real returns.

Visit Dash 2 Trade now

RobotEra (TARO)

Also based on Ethereum, RobotEra (TARO) is a Sandbox-style Metaverse in which players can play as robots and participate in the creation of its virtual world. Its alpha will launch in the first quarter of 2023, with its ecosystem allowing users to create their own NFT-based lands, buildings and other game elements.

1 TARO is currently selling for 0.020 USDT (it can be bought in USDT or ETH), although this price will drop to $0.025 during the second stage of its presale, which should begin soon.

Visit RobotEra now

TAX (TAX)

TAX is a carbon credit marketplace where users can earn and redeem NFT-based carbon offsets, which can also be obtained by purchasing from a wide range of retail partners (all of whom support environmental initiatives). Its tokenization of carbon credits as NFTs means that these credits can be tracked more transparently, helping to solve many of the problems that have plagued carbon markets so far.

The IMPT presale has now raised $13.1 million just a few weeks after its launch, making it one of the hottest sellouts in crypto right now.

Visit IMPT now





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