CRV falls below $0.40 as tokens bought from founder sent temporarily to Binance | Headlines | News | CoinMarketCap
09/13/2023 20:28
The price of Curve DAO tokens fell below $0.40 after CRV bought over-the-counter from the DeFi project’s founder, Michael Egorov, were transferred …
The price of Curve DAO tokens fell below $0.40 after CRV bought over-the-counter from the DeFi project’s founder, Michael Egorov, were transferred earlier today.
Blockchain security firm Peckshield noted that one of Egorov’s counterparties, “0xb0b8”, who received 2.5 million CRV for one million USDT in early August, transferred 609,000 CRV tokens to Binance. “Investors who bought CRV from Michael Egorov at $0.40 are currently at a loss,” web3 data analytics platform Lookonchain added.
The motivation for the transfer remains uncertain. However, the OTC counterparty sent back the 609,000 CRV a few hours later, according to on-chain data, as the token price recovered slightly.
CRV is currently trading at exactly $0.40, according to CoinGecko — down 3% over the last 24 hours.