{"id":135220,"date":"2024-08-09T18:00:30","date_gmt":"2024-08-09T15:00:30","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135220"},"modified":"2024-08-09T15:43:54","modified_gmt":"2024-08-09T12:43:54","slug":"investor-faces-heavy-loss-after-selling-this-altcoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/investor-faces-heavy-loss-after-selling-this-altcoin\/","title":{"rendered":"Investor Faces Heavy Loss After Selling This Altcoin"},"content":{"rendered":"

According to Lookonchain<\/a><\/strong>, the investor had initially bought the tokens from Curve Finance founder Michael Egorov at $0.40 per CRV, spending $10 million. However, they sold the tokens at an average price of $0.22, losing $4.58 million. The institution\u2019s identity remains unknown.<\/p>\n

Curve, a decentralized stablecoin exchange, uses CRV as its native token in its DAO. This incident highlights the volatility and risks of large crypto holdings. The sell-off caused a sharp drop in CRV\u2019s price, showing the market\u2019s sensitivity to large liquidations.<\/p>\n

Meanwhile, Convex Finance, a DeFi protocol on Curve, has gained substantial control in the Curve ecosystem, holding over 50% of vote-locked CRV.<\/p>