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This is who’s shopping for Curve Finance (CRV) tokens amid dramatic collapse of blue-chip DeFi
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Legendary cryptocurrency entrepreneur and investor Justin Sun, founding father of Tron (TRX) and CEO of BitTorrent (BTT), is a type of who determined to “purchase the dip” and profit from the painful plunge of the Curve Finance (CRV) worth.
Curve’s Michael Egorov mass-sells CRV, Justin Solar to the rescue
Tron’s founder Justin Sun bought 5 million CRV tokens from Curve Finance (CRV) founder Michael Egorov. Solar acquired this large stake by way of “over-the-counter” platform at $0.4 per token. As such, he spent $2 million in U.S. Greenback Tether (USDT) and loved a 20% low cost.
Amidst the #DeFi turmoil, a stunning twist emerges! @justinsuntron acquires 5M CRV from @newmichwill on OTC at $0.4/CRV, securing a exceptional ~20% low cost. Additionally, @Rewkang tweeted his assist for Curve, sharing his $CRV commerce. The DeFi saga continues! pic.twitter.com/If7z9Jae6E
— Etherdrops Bot (@etherdrops_bot) August 1, 2023
This suprising deal was registered by Etherdrops, an automatic monitoring service for cryptocurrency tokens. As confirmed by Etherscan, Solar transferred his cash at present, on Aug. 1, 2023, at 8:13 a.m. (UTC).
As lined by U.At the moment beforehand, Curve Finance (CRV), one of many largest and hottest DeFi protocols within the Web3 phase, suffered a $70 million exploit because of the vulnerability in programming instruments.
Specifically, alETH/msETH/pETH liquidity swimming pools using Vyper 0.2.15 have been drained on account of a “reentrancy” design flaw. The value of the CRV token misplaced 31.5% of its worth in lower than two days and dropped to ranges unseen since November 2022.
Mechanism Capital’s Andrew Kang additionally onboard?
On the identical time, the market is usually optimistic about the way forward for Curve Finance (CRV), its token and DAO. Seasoned investor Andrew Kang, cofounder and associate on the Mechanism Capital VC crew, confirmed his assist to the Curve ecosystem.
Daddy’s again https://t.co/tKSYmbtxit pic.twitter.com/Hby0i5iBVQ
— Andrew Kang (@Rewkang) August 1, 2023
He hooked up the screenshot of his November deal, hinting at probably buying CRV token.
It needs to be famous that, regardless of the exhausting assault on Curve Finance (CRV), general market sentiment targets the “Greed” zone once more. Various’s “Concern and Greed” index added three factors within the quickest transfer in two weeks.
By printing time, it’s sitting at 53/100.
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