Million

BitTorrent

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Legendary cryptocurrency entrepreneur and investor <a href="https://u.today/tron-founder-justin-sun-to-switch-to-crypto-regulation-heres-whats-happening" rel="noopener noreferrer nofollow">Justin Sun</a>, founder of Tron (TRX) and CEO of BitTorrent (BTT), is one of those who decided to "buy the dip" and benefit from the painful plunge of the Curve Finance (CRV) price. 
<h2 id="curve-s-michael-egorov-mass-sells-crv-justin-sun-to-the-rescue">Curve's Michael Egorov mass-sells CRV, Justin Sun to the rescue</h2> 
Tron's founder <a href="https://u.today/tron-founder-justin-sun-moves-massive-ethereum-on-chain-sell-off-incoming" rel="noopener noreferrer nofollow">Justin Sun</a> purchased five million CRV tokens from Curve Finance (CRV) founder Michael Egorov. Sun acquired this massive stake via "over-the-counter" platform at $0.4 per token. As such, he spent $2 million in U.S. Dollar Tether (USDT) and enjoyed a 20% discount. 
<blockquote class="twitter-tweet"> 
 Amidst the <a href="https://twitter.com/hashtag/DeFi?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DeFi</a> turmoil, a surprising twist emerges! <a href="https://twitter.com/justinsuntron?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@justinsuntron</a> acquires 5M CRV from <a href="https://twitter.com/newmichwill?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@newmichwill</a> on OTC at $0.4/CRV, securing a remarkable ~20% discount. Also, <a href="https://twitter.com/Rewkang?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Rewkang</a> tweeted his support for Curve, sharing his <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$CRV</a> trade. The DeFi saga continues! <a href="https://t.co/If7z9Jae6E" rel="noopener noreferrer nofollow">pic.twitter.com/If7z9Jae6E</a>— Etherdrops Bot (@etherdrops_bot) <a href="https://twitter.com/etherdrops_bot/status/1686303934837923840?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 1, 2023</a> 
</blockquote> 
This suprising deal was registered by Etherdrops, an automated monitoring service for cryptocurrency tokens. As confirmed by Etherscan, Sun <a href="https://etherscan.io/tx/0x77416adaa2fcc81615623339522a3213eb7cbcd40e3d4149c94e3bde627ef13c" rel="noopener noreferrer nofollow">transferred</a> his money today, on Aug. 1, 2023, at 8:13 a.m. (UTC). 
As covered by U.Today previously, Curve Finance (CRV), one of the largest and most popular DeFi protocols in the Web3 segment, suffered a $70 million exploit thanks to the vulnerability in programming tools. 
Namely, alETH/msETH/pETH liquidity pools utilizing Vyper 0.2.15 have been drained due to a "reentrancy" design flaw. The price of the CRV token lost 31.5% of its price in less than two days and dropped to levels unseen since November 2022. 
<h2 id="mechanism-capital-s-andrew-kang-also-onboard">Mechanism Capital's Andrew Kang also onboard?</h2> 
At the same time, the market is generally optimistic about the future of Curve Finance (CRV), its token and DAO. Seasoned investor <a href="https://u.today/prominent-trader-andrew-kang-updates-his-price-targets-for-ethereum-and-bitcoin" rel="noopener noreferrer nofollow">Andrew Kang</a>, cofounder and partner on the Mechanism Capital VC team, showed his support to the Curve ecosystem. 
<blockquote class="twitter-tweet"> 
 Daddy’s back <a href="https://t.co/tKSYmbtxit" rel="noopener noreferrer nofollow">https://t.co/tKSYmbtxit</a> <a href="https://t.co/Hby0i5iBVQ" rel="noopener noreferrer nofollow">pic.twitter.com/Hby0i5iBVQ</a>— Andrew Kang (@Rewkang) <a href="https://twitter.com/Rewkang/status/1686295788178296832?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 1, 2023</a> 
</blockquote> 
He attached the screenshot of his November deal, hinting at potentially purchasing CRV token. 
It should be noted that, despite the exhausting attack on Curve Finance (CRV), overall market sentiment targets the "Greed" zone again. Alternative's "Fear and Greed" index added three points in the fastest move in two weeks. 
By printing time, it is sitting at 53/100.

Tron (TRX) Founder Justin Sun Just Purchased 5 Million CRV on OTC

Table of Contents

U_Today

Autres articles publiés le 1 août 2023

Privacy concerns raised as UK government advances Online Safety Bill

IRS releases new guidelines on taxing Cryptocurrency staking rewards

Cardano’s Lace Wallet: Empowering Millions of Ethiopians with Limitless Opportunities

Get Set, Go! It's Time for the Twitter Handles Contest!

XRP News: Ripple’s Howey Test Analysis Faces Backlash From SDNY District Court

Binance CEO CZ unveils plans for algorithmic stablecoin development

Join our free newsletter for daily crypto updates!