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Did Curve Finance (CRV) Founder Michael Egorov Make This Big Transfer To Binance?

Did Curve Finance (CRV) Founder Michael Egorov Make This Big Transfer To Binance?

0xce5 wallet, affiliated with Curve Finance (CRV) founder Michael Egorov, deposited 5 million CRV ($2.93 million) to cryptocurrency exchange Binance. 

The deposit was made when the price of CRV was $0.585. This large transfer to Binance was made during the rise.

At the time of writing this article, CRV price is trading at $0.6006.

This development is noteworthy, as the wallet purchased a total of 15 million CRV on August 15, 2023. 

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The CRV came from Egorov’s most frequently used wallet during an over-the-counter (OTC) sale through several intermediary wallets on August 1, 2023. 

This indicates that the wallet may belong to the founder of Curve Finance or to a buyer from an OTC sale.

As of now, 0xce5 Wallet still holds 10 million CRV worth $5.86 million. These funds will be unlocked on August 7, 2024.

The price of CRV has increased by approximately 10% in the last 24 hours.

Curve Finance was the victim of a major hacking attack last August. 

However, Egorov, who made large purchases from other altcoins by showing CRV collateral, had to sell large amounts of CRV tokens at a low price in order to avoid liquidation.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

 

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Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.