Centrifuge (CFG) Pumps 30% as Token Migration Frenzy Begins—Traders Front-Run Yet Another Governance Shuffle
Decentralized finance’s favorite real-world asset protocol is making moves—and bagholders are cashing in. Centrifuge’s native token CFG surged over 30% in 24 hours as the project announced its migration to a new CFM token.
Migration Mania or Smart Money Play?
The rally comes ahead of a controversial tokenomics overhaul—because what’s DeFi without quarterly rebrands and supply adjustments? Insiders whisper the migration could reduce circulating supply, though the team’s medium post reads like a Rorschach test of vague promises.
Real-World Assets Meet Crypto Volatility
Centrifuge bridges traditional finance and DeFi by tokenizing invoices, royalties, and other ’boring’ assets. Today’s price action proves even the stodgiest RWA projects can pump when liquidity’s thin and hopium’s thick. Just don’t ask about default rates when the bear market returns.
As usual in crypto, the ’upgrade’ smells like a wealth transfer—from paper-handed retail to VCs who got their tokens at $0.02. The migration starts May 20th. Place your bets.
Centrifuge price analysis
On the daily chart, CFG climbed to $0.2735 on Friday as anticipation over the token migration intensified. The level is significant, as it coincides with the lowest swing point from October last year.
The MACD indicator has recently crossed above the zero line, and the Relative Strength Index has entered overbought territory.
Given this setup, the token is likely to continue its climb, potentially reaching resistance around $0.50 ahead of the migration. A pullback may follow the event as investors take profits in a classic “sell the news” scenario.
