A preferred crypto dealer stays bullish on a DeFi (Decentralized Finance) altcoin regardless of the market’s total value drop.

Pseudonymous analyst Credible tells his 332,400 Twitter followers that he’s nonetheless shopping for Curve DAO Token (CRV), the governance token for Curve Finance, a decentralized trade for stablecoins.

“Properly beneath my CRV common at this level, however I am simply including extra. The final purchase was round $1.60 and if I can get extra capital I’ll purchase extra as near present ranges as attainable. Staking for 50% APR [annual percentage rate] on Convex Finance, as I’ve for the final 6+ months.”

CRV is buying and selling at $1.13 on the time of writing. The crypto asset, ranked 117th by market cap, is down greater than 16% over the previous seven days.

Credible notes that Bitcoin (BTC) is at present dictating the market.

“BTC made one other swing decrease, bringing with it CRV (and the remainder of the market). We’ve got now entered a major help/resistance area [for CRV] and took key swing lows to our left. Search for a base to type right here after which a retake of the area we broke out of for a reversal.”

Supply: Credible/Twitter

Bitcoin is buying and selling at $29,362 on the time of writing.

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, Standard Crypto Dealer Stays Bullish on a DeFi Altcoin as Bitcoin (BTC) Drags the Market Down

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Featured picture: Shutterstock/Vadim Sadovski/BTC Studio/Fotomay

, Standard Crypto Dealer Stays Bullish on a DeFi Altcoin as Bitcoin (BTC) Drags the Market Down

, Standard Crypto Dealer Stays Bullish on a DeFi Altcoin as Bitcoin (BTC) Drags the Market Down

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