Curve founder Michael Egorov has sold more curve tokens (CRV) in over-the-counter transactions with multiple crypto entities.
Blockchain data indicates that the tokens were sold at $0.40, reflecting the money Egorov sent in exchange. According to the source, the arrangement is a handshake agreement for a three to six-month lockup on the tokens. Alternatively, they can be sold at $0.80 on the open market if the price rises that high.The deals are being made in response to Egorov's large loan position that's at risk of being liquidated if the price of CRV drops considerably.
The latest movements are boosting the health of the position. According to DeBank records, this position boasts a health factor of 1.64, up from 1.5 earlier today.© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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