CRV token price drops below $0.4 after transfer to Binance

One of the counterparties, who bought 2.5 million CRV for $1 million in early August, transferred 609,000 tokens to Binance. This was reported by PeckShieldAlert on X (formerly Twitter).

According to the service data Etherscana few hours after making the deposit, the OTC counterparty sent 609,000 CRV back to his wallet.

Lookonchain Platform Analysts clarifiedthat all investors who bought CRV from Mikhail Egorov at a price of $0.40 are now at a slight loss.

In early August, the founder of Curve Finance began selling assets on the over-the-counter market. It later became known that Wintermute and Tron founder Justin Sun were major buyers of CRV. Another anonymous organization entered into a large over-the-counter transaction to purchase 17.5 million CRV.

At the end of July 2023, the Curve Finance decentralized exchange was hacked by hackers. Losses from the exploit exceeded $50 million.


Source: Cryptocurrency

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