Curve (CRV) token price increased by 100% in the last month, but is the rally sustainable? To be fair, I’m currently short selling CRV and earning interest for doing so on Vertex. If you’re interested, you can use my referral link to get some incentives: Vertex Referral Link

Now, about Curve Finance. The protocol is undeniably one of the most innovative in the DeFi space. Despite the hack last year—which, to be fair, didn’t compromise the core protocol—it still offers great utility. Yet, Michael Egorov, Curve’s founder, is a constant source of intrigue (and uncertainty).

Recently, Egorov’s wallet has made headlines again due to another CRV liquidation. This time, it happened mere days after he spent over $1.2M buying CRV tokens. He’s claimed the liquidation was a technicality tied to losses from the UwU Lend hack earlier this year. But as a CRV holder (and someone now shorting the token on Vertex), I’m starting to question the long-term trajectory of both Egorov’s strategies and the token itself. 

Let’s be honest—Curve’s role in DeFi remains significant. It’s a top market for assets like sUSDe and a key liquidity provider across multiple blockchains. Yet the protocol’s total value locked (TVL) has dropped drastically, from a peak of over $23B to just $2.37B today. The CRV token itself has struggled, trading at around $0.94, far below its 2021 highs of $5+.  

So, is CRV still a worthwhile investment, or is the protocol past its prime? While I appreciate Curve's innovation, I can’t ignore the market’s dwindling confidence, amplified by the controversies surrounding its founder.

If you’re holding CRV or considering buying, how are you justifying your decision? Or are you, like me, finding it safer to short the token in this volatile environment? Let’s discuss.