Curve DAO Token Tumbles 13% Amid Founder Liquidation Claims
Release: 2024/12/19 23:44 Reading: 316
CRV Drops 13% Amid Liquidation Claims
Michaels Egorov Denies Allegations
Curve DAO Token (CRV) has faced recent volatility and controversy involving its founder, Michael Egorov. Reports from PeckShield indicate that Egorov's account was liquidated on December 19, selling $882,660 worth of CRV tokens. This followed his previous purchase of $1.2 million in CRV.
Allegations and Rebuttals
The liquidation occurred during a significant 12% price drop, raising investor concerns. However, Egorov dismissed the allegations, claiming that the liquidated tokens were receipts from the June 10 "uwu" hack, not legitimate holdings.
CRV Faces Challenges
CRV has struggled to maintain stability, dipping to $0.90 before partially recovering. Analysts warn that further drops may occur if it fails to hold above $0.90. Despite these challenges, there have been positive developments, such as the launch of the decentralized stablecoin, crvUSD.
Uncertainty Remains
CRV's recent performance highlights the risks of leveraging in volatile markets. Investors remain cautious, and the token's future depends on its ability to recover amidst market pressures and ongoing doubts surrounding Egorov's claims.
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