DRV (Derive) rose 39.95% in the last 24 hours.

Gate News Bot message, on October 14, according to CoinMarketCap, as of the time of writing, DRV (Derive) is currently priced at 0.06 USD, having risen by 39.95% in the last 24 hours, with a high of 0.06 USD and a low of 0.04 USD. The current market capitalization is approximately 43.5 million USD, an increase of 12.4 million USD compared to yesterday. Currently, DRV ranks 593rd in global Crypto Assets market capitalization.

Important news about DRV recently:

1️⃣ Derive co-founder proposes to increase the issuance of tokens by 50% A co-founder of the Derive project recently proposed a significant proposal to increase the supply of DRV tokens by 50%. If this proposal is approved, it would dilute the shares of existing token holders by approximately 33%. This move has sparked intense discussions within the community, with some investors expressing concern that it could negatively impact the value of the tokens.

2️⃣ The market holds a cautiously optimistic attitude towards the future development of DRV Despite the uncertainty of token issuance, the recent price performance of DRV remains strong. This may reflect some investors' confidence in the long-term development prospects of the Derive project. Market analysts point out that while token issuance may cause dilution in the short term, if used for project development and ecosystem expansion, it may bring positive effects in the long run.

3️⃣ DRV technical aspect shows a rise trend From a technical analysis perspective, DRV has recently broken through several key resistance levels, and trading volume has also increased. This combination of price movement and trading volume suggests that buying pressure is strengthening. However, investors should remain cautious of potential pullback risks, especially in the context of the token issuance proposal.

Overall, the short-term price trend of DRV is influenced by both the token issuance proposal and market sentiment. Investors need to closely monitor the progress of community governance and subsequent announcements from the project team when making decisions.

This message does not constitute investment advice, and investors should be aware of market volatility risks.