Curve DAO Token price

Reference · reviewed 14 Nov 2026

What Curve DAO Token is

Curve DAO Token, or CRV, is the governance and incentive token of Curve, a decentralized exchange protocol. Curve is designed to make swaps between assets intended to track the same value easier and more efficient by bringing liquidity providers together in pools rather than relying on a conventional order book. Its design also supports assets with different pegs. CRV coordinates participation in this ecosystem. It is not a stablecoin and does not represent a claim on cash or another asset.

What CRV is used for

CRV holders can vote on proposals affecting the protocol, including changes to pools, fees, gauges and the token system. They can also stake CRV through Curve’s vote-escrow mechanism, commonly called veCRV. Locking CRV in this mechanism gives a holder voting power and can provide boosted liquidity incentives. Here, staking means locking the token within the protocol rather than depositing it with a third party to earn interest. CRV is not intended for ordinary payments; its role is primarily governance and participation in the protocol.

Supply

As of November 2026, Curve DAO Token has a circulating supply of 1,392,023,001 CRV, a total supply of 2,343,688,894 CRV and a maximum supply of 3,303,030,299 CRV. The stated maximum supply acts as a cap, meaning token issuance is not intended to continue above it. A cap can limit further dilution caused by new token creation. Circulating supply is lower than total supply because not every issued token is circulating. The reported issued share of the maximum is 42.1%.

How Curve DAO Token has traded

CRV first traded in March 2021 at $3.01. Its all-time high was $6.71 on 4 January 2022. Annualised volatility is 82%, indicating substantial variation in the market over the measured period. The deepest drawdown from a peak in the past year was -58.8%, describing how sharply the market fell from a previous high. These historical measures characterise trading activity without indicating a future price.

Risks to understand

CRV is exposed to smart-contract, governance and market risks. A flaw in protocol code could lead to loss, theft or disruption, while errors in pricing mechanisms and pool management can affect users even when code operates as intended. Liquidity providers may also face losses when the value of assets held by a pool becomes unbalanced. Governance influence may be concentrated among large holders or participants able to lock more CRV, making decisions dependent on a limited group. Continued token distribution can dilute existing holders. In addition, changes in regulatory treatment could affect how the token or related activities are classified and used. CRV’s volatility and past drawdown also show that substantial losses are possible.