Hassan Maishera
TL;DR
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Bitcoin is up by less than 1% in the last 24 hours but continues to trade below the $29,500 mark.
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The performance comes despite Curve Finance experiencing a major exploit over the weekend.
Bitcoin Maintains Value Above $29,500
Bitcoin, the world’s leading cryptocurrency by market cap, is up by less than 1% in the last 24 hours. It has added 0.3% to its value during that period and is now trading at $29,383 per coin.
The performance comes despite Curve Finance experiencing a major exploit over the weekend. Curve Finance experienced an exploit over the weekend that put roughly $100 million worth of tokens at risk.
Curve is a major DeFi platform in the cryptocurrency ecosystem and is a major stablecoin project on the Ethereum blockchain. Its exploit is a huge blow to the broader crypto market, but the prices of most assets remain largely unaffected.
Ether, the second-largest cryptocurrency by market cap, has lost roughly 1% of its value in the last 24 hours and is now trading at $1,864 per coin.
CRV, the native token of the Curve Finance ecosystem, has lost more than 17% of its value, making it the worst performer amongst the top 100 cryptocurrencies by market cap. At press time, the price of CRV stands at $0.6415.
Bitcoin continues to trade below the $30k level as investors await major price catalysts in the market. While BTC is expected to rally higher over the next few months, market analysts believe there could be a pullback before the market embarks on a rally.
