Crypto News

Whales Accumulate $CRV Amid Post-Liquidation Dip, Driving Significant Price Recovery

Amid the recent $CRV liquidation crisis, six major investors, known as whales, have seized the opportunity to accumulate a substantial 55.26 million $CRV, equivalent to approximately $19.4 million.

Notably, five of these six whales are first-time $CRV buyers, contributing to a noticeable surge in first-time $CRV purchases over the past week.

The influx of whale activity has led to a significant price recovery for $CRV, which has surged by around 14% in the past 24 hours, nearly reaching its pre-liquidation price levels.

One notable whale, identified as 0xab9, recently withdrew 16.82 million PEOPLE ($1.47 million) and 3 million CRV ($1.06 million) from Binance. This marks the first time this whale has accumulated both PEOPLE and CRV. Currently, PEOPLE and CRV rank second and third in this whale’s $95.4 million portfolio, following ETH.

$CRV Token Price Action Following Recent Happenings 

Over the past 24 hours, $CRV saw a price increase of 17.58%, while the price of PEOPLE experienced significant fluctuations.

Another whale, identified as 0x906, withdrew 7.54 million CRV ($2.31 million) from Binance at an average price of $0.306 per CRV. This transaction marks the whale’s first foray into $CRV trading. Previously, this investor has realized substantial gains, making an estimated profit of $6.13 million (a 512% return) from trading 175,510 INJ between April 13, 2023, and January 9, 20.

The strategic movements of these whales highlight a renewed interest and confidence in $CRV, especially following its recent price dip. As these large-scale investors consolidate their positions, the market is closely watching for potential further price movements and the implications for the broader cryptocurrency landscape.

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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Image Source: loft39studio/123RF // Image Effects by Colorcinch

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