Curve DAO (CRV) has shown a 14% increase over the past 24 hours, despite the overall decline in the crypto market. This dynamic is driven by several factors, including the specifics of trading on perpetual markets, capital inflows, and blockchain activity. The growth of CRV is associated with capital inflows into perpetual markets. The funding rate, which indicates traders' positioning on the asset, shows a high concentration of long positions. Currently, the funding rate for CRV is 0.0096%, indicating that long traders are paying higher fees to maintain the balance between spot and futures markets.
In the last 24 hours, capital inflows into perpetual markets have increased by 29%, bringing the open interest to $165.84 million. This indicates that most of the $48 million that entered the market in a day consisted of long-term bets on the rise of CRV, supporting its bullish trend. A significant factor in the price increase was also blockchain activity. According to DeFiLlama, the number of active addresses using the network reached 5,053 in the last 24 hours, representing an 18% increase compared to 4,281 addresses previously. The number of transactions in the same period increased by more than 53%, totaling 12,741 transactions and reaching an overall number of 35,091.
However, Curve DAO is currently operating at a loss according to revenue data. According to DeFiLlama, the protocol recorded a loss of $3.09 million in the third quarter of 2025, largely due to the Curve incentive program, which paid out more than its gross profit. Incentives paid out for the quarter amounted to $7.04 million, ultimately leading the protocol to losses. This may influence investors' decisions not to hold the asset long-term but to trade it for short-term profits, which could affect future price performance. As a result, the growing activity in perpetual markets, positive funding levels, and increased open interest have supported the 14% rise in CRV. Nevertheless, the losses of the Curve DAO protocol remain a risk to its long-term prospects.
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