Whales Exploit Price Discrepancy in CRV, Make 10% Profit

IconCryptoNewsTerminal Staff13 Jun, 2024

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Whales Exploit Price Discrepancy in CRV, Make 10% Profit

Whales have been actively trading Curve (CRV) tokens, taking advantage of a price difference between on-chain and centralized exchanges. According to crypto on-chain analyst EmberCN, a large whale address purchased 6,313,300 CRV tokens on-chain at an average price of $0.237. The whale then sold these tokens on Binance at an average price of $0.263, netting a profit of around 10%. This strategy is possible due to the current market conditions, with the on-chain price of CRV being lower than on centralized exchanges. This difference is likely due to Curve founder Michael Egorov's recent deleveraging of his loan position. Whales have been actively exploiting this opportunity, making significant profits in the process. This type of arbitrage trading is a common strategy used by whales to take advantage of market inefficiencies.

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