Following the latest hack assault on Curve Finance, a whale who had bought over-the-counter (OTC) CRV tokens from Curve Finance founder Michael Egorov started promoting.
Egorov was confronted with the hazard of liquidation after the CRV token worth drop within the DeFi loans he obtained by utilizing CRV altcoins as collateral.
The whale, identified with the handle 0xb0b, deposited 609,057 CRV tokens to Binance at a mean worth of $ 0.39, and a complete of tokens price roughly 237 thousand {dollars}. The present variety of tokens held by this handle is 1,890,943 CRV and its worth is roughly 744 thousand {dollars}.
CRV worth dropped beneath the OTC worth stage of $0.4 on September 13 and is at present buying and selling at $0.4060. So within the present scenario, it has made a loss from this OTC commerce. Egorov bought a big CRV by way of OTC for $0.40 when the CRV worth was round $0.58.
Chart with each day candles displaying the decline in CRV worth.
Particularly, handle 0xb0b misplaced an estimated complete of $17,400 from CRV belongings. On August 1, they bought 2.5 million CRV tokens from Michael Egorov for 0.4 {dollars} with 1 million USDT.
*This isn’t funding recommendation.
