{"id":84498,"date":"2023-09-14T13:28:45","date_gmt":"2023-09-14T10:28:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84498"},"modified":"2025-09-12T17:44:19","modified_gmt":"2025-09-12T14:44:19","slug":"crv-price-falls-below-0-40-amid-transfers-of-tokens-to-binance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crv-price-falls-below-0-40-amid-transfers-of-tokens-to-binance\/","title":{"rendered":"CRV price falls below $0.40 amid transfers of tokens to Binance"},"content":{"rendered":"<p>CRV price fell below $0.40 amid transfers of tokens from the founder Michael Egorov to Binance.<\/p>\n<p>The holder of 2.5 million CRV (address 0xb0b8) transferred 609,000 CRV to the platform, according to PeckShield.<\/p>\n<p>Egorov reduced his stake in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-decentralised-exchange-dex\">DEX<\/a> in a series of August trades to mitigate the risk of debt liquidation in DeFi protocols.  <\/p>\n<p>To date, the Curve founder has sold a total of 157.6 million CRV worth $47.4 million. His aggregate debt across a number of crypto-lending services <a href=\"https:\/\/debank.com\/profile\/0x7a16ff8270133f063aab6c9977183d9e72835428\">amounts to about $107.1 million<\/a>.<\/p>\n<p>It was anticipated that buyers would not sell CRV over the next six months.<\/p>\n<p>Given the price at the time, they found themselves with unrealized losses.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The price of <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> has dropped below $0.4, and investors who bought <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> from Michael Egorov at $0.4 are currently at a loss.<\/p>\n<p>Investor&#8221;0xb0b8&#8243; who spent 1M <a href=\"https:\/\/twitter.com\/search?q=%24USDT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDT<\/a> to buy 2.5M <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> deposited 609,057 <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> ($240K) to <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> an hour ago.<a href=\"https:\/\/t.co\/cfcSvCPil9\">https:\/\/t.co\/cfcSvCPil9<\/a> <a href=\"https:\/\/t.co\/3XjdtSkHuY\">pic.twitter.com\/3XjdtSkHuY<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1701874407034306941?ref_src=twsrc%5Etfw\">September 13, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Within a few hours, the tokens<a href=\"https:\/\/etherscan.io\/address\/0xb0b851bf44499edec30795bef7ac4d5f9dd632d0#tokentxns\"> \u0432\u044b\u0432\u0435\u043b\u0438 \u0441 Binance<\/a>.<\/p>\n<p>Against this backdrop, CRV rose back above $0.40. According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/curve-dao-token\"> CoinGecko<\/a>, in the last 24 hours the asset&#8217;s price rose 2.5%.<\/p>\n<p>Earlier, on July 30, a hacker <a href=\"https:\/\/forklog.com\/en\/news\/hacker-drains-curve-finance-liquidity-pools-of-47-million\">attacked<\/a> Curve Finance liquidity pools and withdrew more than $50 million, exploiting a vulnerability in the Vyper code.<\/p>\n<p>Shortly after the incident, the Curve founder Michael Egorov began actively selling CRV tokens on the OTC market. Among the buyers were prominent figures in the crypto industry, including <a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-buys-2-9-million-worth-of-crv-tokens\">co-founder of Tron Justin Sun<\/a>. <a href=\"https:\/\/forklog.com\/en\/news\/binance-invested-5-million-in-curve-dao-tokens\">Binance<\/a> allocated $5 million for these purposes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CRV price fell below $0.40 amid transfers of tokens from founder Michael Egorov to Binance.<\/p>\n","protected":false},"author":1,"featured_media":84499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1426,1145],"class_list":["post-84498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-curve-crv","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84498"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84498\/revisions"}],"predecessor-version":[{"id":84500,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84498\/revisions\/84500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84499"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}