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<p>Curve Finance, a titan in the stablecoin swapping space, has been the recipient of considerable institutional investment. Several entities have been acquiring $CRV via over-the-counter (OTC) transactions. Among the notable buyers, Machi Big Brother, DWF Labs, and Cream.Finance have purchased 3.75M, 2.5M, and 2.5M $CRV respectively. This influx of institutional interest underscores the growing recognition of Curve Finance’s potential in the DeFi landscape.</p> 
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   <p lang="en" dir="ltr">More and more institutions and investors bought <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> via OTC!<br><br>Machi Big Brother bought 3.75M <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a>.<br>DWF Labs bought 2.5M <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a>.<a href="https://t.co/MQg382LigF" target="_blank" rel="noopener noreferrer nofollow">https://t.co/MQg382LigF</a> bought 2.5M <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a>.<br>…<br><br>Michael Egorov has sold a total of 39.25M <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> via OTC and received 15.8M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a>.<a href="https://t.co/hQBlW5WG6J" target="_blank" rel="noopener noreferrer nofollow">https://t.co/hQBlW5WG6J</a> <a href="https://t.co/NMIQ2p05ZL" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/NMIQ2p05ZL</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1686331352483082240?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2023</a> 
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<p>However, the journey has not been without its share of turbulence. Michael Egorov, the founder of Curve Finance, sold a substantial amount of 39.25M $CRV via OTC, receiving 15.8M $USDT in return. This move, coupled with the sale of an additional 4.25M $CRV to dcfgod and 5M $CRV to Justin Sun, the founder of the Tron blockchain, stirred the market.</p> 
<p>The sale of such a large amount of $CRV by the founder himself led to a bearish sentiment among traders. Concerns were raised that the liquidated assets would have to be sold into a market where prices were already falling. This was further exacerbated by an exploit that affected Curve Finance, driving down the price of the CRV token and putting a $168 million stash of Egorov’s money at risk of being liquidated.</p> 
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<p>The potential liquidation of such a large position could have had a domino effect on other DeFi protocols. $CRV is used as a trading pair and ballast in trading pools across the ecosystem, and a significant drop in its value could have put pressure on these protocols.</p> 
<p>However, in a surprising turn of events, Justin Sun and others stepped in to support the $CRV token price. This move could protect the massive loan tied to Egorov from being liquidated, demonstrating the resilience and interconnectedness of the DeFi community.</p> 
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 <img decoding="async" loading="lazy" width="1024" height="667" src="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-1024x667.jpeg" alt="" class="wp-image-302075" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-1024x667.jpeg 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-300x195.jpeg 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-767x499.jpeg 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-1536x1000.jpeg 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-2048x1333.jpeg 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-230x150.jpeg 230w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-100x65.jpeg 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-336x220.jpeg 336w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-538x350.jpeg 538w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1-788x512.jpeg 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/chart-1.jpeg 805w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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<p>CRV is trading at $0.5998 with a 6.6% drop in value over the last 24 hours. The Curve Finance saga is a testament to the dynamism and volatility of the DeFi space. It highlights the importance of institutional investment, the impact of market sentiment, and the power of community support in shaping the trajectory of DeFi protocols.</p> 
<p>Institutional investment often brings credibility and stability to a token, which can lead to increased demand and potentially a higher price. The events surrounding Curve Finance and its native token, $CRV, have the potential to influence its price both positively and negatively, depending on various factors. The sale of a large amount of $CRV by the founder, Michael Egorov, initially led to a bearish sentiment among traders. However, if the market perceives this as a strategic move rather than a lack of confidence in the token, it could eventually lead to a positive outcome.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/massive-8-75-million-crv-acquisition-by-machi-big-brother-dwf-labs-and-cream-finance-will-it-catapult-the-price/">Massive 8.75 Million CRV Acquisition by Machi Big Brother, DWF Labs, and Cream.Finance – Will it Catapult the Price?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Massive 8.75 Million CRV Acquisition by Machi Big Brother, DWF Labs, and Cream.Finance – Will it Catapult the Price?

CaptainAltcoin

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