Michael Egorov, the founder of Curve, has reportedly transferred another 3.75 million CRV tokens, worth $1.04 million, to christian2022.eth (@Christianeth) in what is believed to be an over-the-counter (OTC) deal.
Did Michael Egorov (@newmichwill) and christian2022.eth (@Christianeth) close another 3.75M $CRV OTC deal after the recent 5% price drop?
Note that christian2022.eth once sent 400K $USDT to Michael Egorov post-June's $CRV crisis and received back 3.75M $CRV. He then deposited… pic.twitter.com/sparKvIcU7
— Spot On Chain (@spotonchain) June 29, 2024
Previously, christian2022.eth sent 400,000 USDT to Egorov following June’s CRV crisis, receiving 3.75 million CRV tokens in return at an alleged OTC price of $0.107 per token. These tokens were then deposited into Binance at a rate of $0.333, valuing them at approximately $1.25 million.
CRV Price Action To Watch Following Recent Happenings
The CRV price has dropped by 5% in the past 24 hours, adding to the volatility.
A whale deposited 22M $CRV($6.2M) into #Binance 40 minutes ago.
The 22M $CRV was bought after the $CRV liquidation, with a buying price of ~$0.33.
Selling now will result in a loss of ~$1M.https://t.co/BfAuxWgjsU pic.twitter.com/hKbYFyRl7G
— Lookonchain (@lookonchain) June 28, 2024
Additionally, a whale has deposited 22 million CRV tokens, valued at $6.2 million, into Binance today. These tokens were acquired post-liquidation at a price of roughly $0.33 per token. If sold now, this whale would incur a loss of approximately $1 million.
These significant movements highlight the turbulent state of the CRV market and the pressures faced by large holders.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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