When some of the CRVs received from Michael Egorov, the founder of the decentralized finance (DeFi) protocol Curve Finance, were moved to Binance, the token price dropped below $0.4.
Curve Finance at the end of July hack was attacked, and the drop in CRV price put founder Michael Egorov’s million-dollar position in liquidity danger. Realizing this danger, the founder took action quickly and OTC by $0.40 worth millions of dollars CRV had sold.
On-chain analysis firm Peckshield to your data According to some of these CRVs sold by Egorov September 13 day took action. From founder Egorov at the beginning of August one million Tether (USDT) in return 2.5 million CRV area “0xb0b8address named “ 609,000 CRV transferred it to the cryptocurrency exchange Binance.
CRV price after transfer $0.4 for a short time falling under $0.391 fell into the band. These tokens purchased via OTC are within the scope of the agreement. being locked up for six months It was necessary. Probably the wallet that made the transfer in this context CRVs without selling withdrew from the stock market.
On-chain analysis platform lookonchainafter the decline inInvestors who bought CRV from Michael Egorov at $0.40 are now at a loss” expressions used. Egorov in total at the beginning of August 106 million CRV for 46 million dollars by selling your position liquidation risk managed to reduce it significantly.
According to CoinGecko data, in the last 24 hours 2.3% CRV gaining value, at the time of writing from $0.411 is being traded.
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Related article: What is the CRV Position of the DeFi Boss: Has the Liquidation Risk Eliminated with Sales?
The Tokens Sold by the Founder of This Altcoin Were Transferred to Binance, the Price Mobilized: What’s Happening? The article titled was prepared by Tugay Erdem and published on koinbulteni.com.
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