Curve Founder Liquidates 20 Million CRV on DeFi Protocol

IconCryptoNewsTerminal Staff13 Jun, 2024

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Curve Founder Liquidates 20 Million CRV on DeFi Protocol

Curve founder Michael Egorov has liquidated 20.2 million CRV tokens on DeFi protocol UwU Lend, according to blockchain security firm PeckShield. This represents a significant amount of CRV, which is the native token of the Curve ecosystem. It is unclear why Egorov decided to liquidate such a large amount of CRV, but it is possible that he is looking to take profits or reduce his exposure to the cryptocurrency market. The liquidation has had a noticeable impact on the CRV price in the short-term, but it is too early to tell what the long-term effects will be.

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