Curve Finance [CRV]: Despite humdrum price action, is there hope for a recovery

ambcrypto.com:

Curve Finance is an automated market maker platform that is primarily designed to accommodate liquidity pools that contain similarly behaving assets, primarily stablecoins, or wrapped versions of similar assets. Simply put, it is a decentralized exchange (DEX) for stablecoins. The governance token for the DEX is regarded as Curve DAO Token (CRV).

With a Total Value Locked (TVL) of $7.82 billion at the time of writing, data from DefiLlama showed that the TVL of the Curve Finance Protocol has taken on a steady decline since 8 May. Marking a TVL of $17.49 billion on 8 May, the Protocol has since shed over 50% of its TVL to rank 3rd on the list of DeFi protocols with the largest TVL.

Within the same period, the CRV token also embarked on a steady decline in price. What else do we know about the Protocol and its governance token, CRV in the last one month.

With a TVL of $7.82 billion at the time of writing, Curve held over 7% of the market share in the total TVL of $102.04 billion of all DeFi Protocols. 

Its token, CRV, has also recorded its own share of the decline. At an index price of $1.22 a month ago, the token has since declined by 15%. At the time of writing, the price was spotted at $1.04 per CRV token. Within the last 24 hours, the price went down by 9%. Trading volume was spotted at a high of 31% in the last 24 hours showing increased distribution at the time of press.

Source: CoinMarketCap

The Relative Strength Index (RSI) for the CRV token, on 4 May, marked a spot at 56, above the 50 neutral index. However, as the bears took over the market, the RSI was soon corrected. Over the course of the last month, the token has struggled to ward off the bears with its RSI positioned below the 50 neutral mark in oversold regions.