39$ too much for first giveaway ?

This explains a lot of things, thanks!

This.
Wise man is wise.

Your first giveaway was worth $40, but the system only recognizes 15% of it because it's been bundled, so you in fact got only $6 CV and you need $25 for level 2.

the game you gifted was a bundled game so you only get 15% of the value of it (in this case $6 CV).. each level needs a certain amount of "real cv" to get thru, the list of all cv levels tells you the corresponding values. the sgtools (second link in meemesmo's post) tells you your true current CV.. bundlelist games can be found here

whatever you giveaway adds up to your value, each level requires certain value. You don't need to make exact value to make a level, extra value is not lost. If for example on level 0 you'd give 60$ worth non-bundle game you wouldn't just hit lvl1, you'd instantly rise from lvl0 to lvl3 - skipping lvl 1 and 2. If you give something that is unbundled (not on this list: https://www.steamgifts.com/bundle-games) and is worth 39$ your Real Value will rise to 52.5$ and you will be level 3.

was your copy of "Drunk Wizards" an invalid or bad key?