Whales Bet Big on CRV despite Curve’s Struggles: Analyzing the Protocol’s Uptick

• Convex Finance dominated Curve Finance’s governance, holding 45% of the overall governance on the network.
• Despite a decline in volume, Curve Finance’s treasury holdings increased by 37.3%.
• Whales have shown interest in CRV and its prices have surged, despite a decrease in trading velocity.

Convex Finance Dominates Curve Governance

Convex Finance has taken over 45% of the overall governance on Curve [CRV] network after holders of veCVX and veCRV tokens voted for specific pools and earned bribes from other protocols. This dominance was created as Convex held most of these tokens which allowed them to vote for incentivized pools.

Curve Faces Heat

Despite their dominance, Curve Finance has seen their share of DEX volume fall from 15.2% to 4.4% since the beginning of this year due to competition from Uniswap [UNI]. The protocol still generated ample revenue though and increased its treasury holdings by 37.3%. However, there is potential room for improvement as it pertains to volume and active developers – with only 8.6% increase in active developers over the past week.

Whales Show Interest

Whales have been showing strong interest in CRV token with Santiment data showing an increase in large address holders over the past week. This could be one reason why CRV prices have surged despite decreased trading velocity as reported by Token Terminal – suggesting that frequency with which CRV is traded has plummeted.

Delphi Digital Speaks On Convex Business Model & Looming Catalyst

Delphi Digital released an article for PRO members which looks at Convex’s business model and a looming catalyst live now⬇️https://t.co/akrMZYuE8M . It is unclear whether this report will drive further investment into the protocol or not but only time will tell whether whales are correct in their assessment of the Curve token.


Overall, Convex Finance holds a dominant position amongst Curve protocols after gaining 45% of total control on staking pools while whales continue to buy CRV despite decreased trading velocity and lower DEX volumes compared to Uniswap [UNI]. Delphi Digital released an article looking at Convex’s business model while whales show increasing interest in CRV token – only time will tell if they are right about their assessment or not