Trump Signs DeFi Law, CRV Token Jumps 19%
Key Takeaways
Following a new legislative initiative by U.S. President Donald Trump, the DeFi token CRV (Curve DAO) experienced a significant price increase. The measure protects decentralized finance applications (DeFi) from regulatory restrictions imposed by the IRS. As a result of the announcement, the CRV price rose by 19% within 24 hours. Traders and investors are showing increased interest. The price trend suggests further potential – despite short-term pullbacks.
Trump Protects DeFi – Impact on the Crypto Market
On April 10, President Trump signed a law that provides legal protection for DeFi applications. The initiative blocks the so-called “DeFi Broker Rule,” which would have required both custodial and non-custodial services to regularly report transaction data to the IRS (Internal Revenue Service). Critics viewed this as a threat to innovation and privacy.
Mike Carey, a member of the House Ways and Means Committee, commented: “The DeFi Broker Rule would have hindered American innovation, violated citizens’ privacy, and overwhelmed the IRS.”
CRV as a Beneficiary: Price Surge and Investor Interest
Immediately after the announcement of the legislation, the price of CRV rose by 19%. On a monthly basis, this results in a gain of 48%. According to on-chain data, around 1.15 million CRV worth approximately 667,000 USD were withdrawn from exchanges within a single day – a sign of long-term holding intentions.
The analysis of the IOMAP indicator (In/Out of the Money Around Price) shows that the next major resistance lies at 1.83 USD. Sell orders totaling around 900 million CRV could be placed at that level. If buying momentum continues, a rise to this mark is possible.
Short-Term Correction Possible – Key Support Zones in Focus
Currently, CRV is trading at around 0.61 USD – a level that has previously acted as resistance. A short-term pullback cannot be ruled out. Three support zones could serve as safety nets: $0.549, $0.509, and $0.478.
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In the derivatives market, there is a slight increase in short positions. The OI-weighted (Open Interest) funding rate is negative – an indication of rising selling pressure. Nevertheless, overall sentiment remains positive.
Our Assessment
The new U.S. legislation brings legal clarity for DeFi projects – an important step for the market. CRV is benefiting directly from this. Strong demand and limited resistance suggest further potential. While short-term pullbacks are possible, a stable upward trend could develop in the long term.
For investors, it is important to monitor developments, keep an eye on support zones, and consider the broader market environment. Political support for DeFi could signal broader acceptance – even beyond the United States.
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