Centrifuge: Can CFG bulls break past $0.18 as TVL hits $1.6B? Examining...

The past 24 hours have seen altcoins react differently, with the majority of them recording losses. Centrifuge [CFG] was one of the standout performers with a 12% increase, ranking among the top ten daily gainers.

Centrifuges announcement to expand to Base Chain, where it allowed the trading of tokenized S&P 500 as a new asset class, drove the rally. Is tokenization the main driver of CFG？ Can bulls keep up with the pace？

CFG price bounces off KEY retracement level

The charts clearly showed the current bullish momentum, with CFG rallying from a low of $0.14 to a daily high of $0.172. The altcoin lost its rising trendline support on the 31st of March but seemed to have ended the correction phase.

CFG bounced off the zone between 0.618 and 0.786 Fibonacci Retracement levels. To be specific, the altcoin respected the optimal zone at the 0.75 Fib level but seems to be seeing rejection around $0.17.

Holding through the premium zone, which is above the 0.5 Fib level, the altcoin increases the potential to hit $0.1857. However, this zone has sparked bearish reversals three times as CFG makes the fourth attempt.

Source: CFG/USDT on TradingView

Interestingly, bulls are showing strength, though it‘s weak. The MACD lines have had a crossover confirming a short-term trend shift in the altcoin’s price action.

That puts $0.1857 as a potential reversal zone unless bulls can gather enough momentum past the resistance. This resistance zone was 18% away from $0.1561, which was a discount area considering the rally that started on the 23rd of March.

Growth in Centrifuges TVL, revenue, and holders

As Centrifuge continued to expand its chain, its Total Value Locked (TVL), revenue, and number of holders followed suit.

For instance, its TVL grew to $1.6 billion from $1.2 billion. This trend is continued as the asset classes have increased to four, which include treasuries, AAA CLOs, private credit, and now S&P 500. Treasuries accounted for the largest share of $1.2 billion.

Its revenue showed steady growth even though there was a slight dip since the year started. March recorded higher revenue than February, indicating the growth was back to positive territory.

Source: Dune Analytics

Dune Analytics recorded a total of 19,699 unique addresses interacting with CFG. Moreover, holders were growing steadily day by day since May 2025.

Only 14 new holders had been added in the past 24 hours, taking the total over time to 9,111.

Source: Dune Analytics

In summary, CFG prices were mainly driven by the network activity alongside a bullish technical setup.