Curve Founder's Loan Positions Sink Below Liquidation Threshold

IconCryptoNewsTerminal Staff13 Jun, 2024

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Curve Founder's Loan Positions Sink Below Liquidation Threshold

"Curve founder Michael Egorov's five loan positions across five addresses are all below liquidation threshold. The position in the main address (starting with 0x7a1) is currently being liquidated, while the positions in the rest of the addresses haven't started liquidation yet. This development follows a recent decline in the value of Curve's native token, CRV. CRV has lost over 50% of its value since reaching an all-time high in August. The decline in CRV's price has put pressure on Egorov's loan positions, as the value of his collateral has decreased. It's worth noting that Egorov's loan positions are not the only ones that have come under pressure recently. The broader crypto market has been in a downtrend for several months, and this has led to a number of liquidations across the industry. It remains to be seen whether Egorov will be able to avoid liquidation on his remaining loan positions. If the price of CRV continues to decline, it is possible that he will be forced to sell his collateral at a loss."

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