Curve DAO Token

<p>Michael Egorov, a notable figure in the cryptocurrency space, has faced another significant liquidation event. According to Lookonchain, Egorov was liquidated for 2.67 million $CRV, equivalent to $677,000, a few hours ago. This marks another blow in a series of financial setbacks for Egorov.</p><h2 id="header-0">Michael Egorov Still Holds $2.5M in $CRV Despite Liquidation</h2><p>The dealings of Egorov have been closely watched by the crypto community particularly due to a rather volatile market at present in the past years. However, in this recent liquidation, Egorov continues to possess a significant amount of $CRV. He has 10 million $CRV, which valued about $2. 5 million, staked in UwULend.</p><h2 id="header-1">Low Health Rate of Egorov’s Staked $CRV Sparks Fears</h2><p>However, there is growing concern about the health of other companies owned by Michael Egorov. The health rate of his staked $CRV in UwULend is desperately low at 1.09. In terms of <a href="https://blockchainreporter.net/defi-decentralized-finance/" rel="noopener noreferrer nofollow">DeFi</a>, if a health rate falls below a given level, it leads to automatic forced selling in order to secure its wealth. This health rate reflects the future possibility of further liquidation if the market trends persistently deteriorate.</p><p>The example provided by <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a> reflects the dangers and unpredictable character of the DeFi market, which can result in serious losses due to high fluctuations in price. The crypto community will be careful observing how Egorov is going to deal with these tough times and whether he will be able to consolidate his statuses in an unpredictable market.</p>

Michael Egorov Faces Another $677K Liquidation

Indice dei contenuti

BlockchainReporter

Altri articoli pubblicati su 25 lug 2024

Confirmed: VP Harris Skips 2024 Bitcoin Conference, Eyes Turn To Trump’s BTC Plan

Six Reasons XRP is Set for a Significant Price Surge: Analyst Insights

Ethereum ETFs Debut Strongly: BlackRock and Bitwise Lead with $470.5M Combined Inflows

Revolut Secures Banking License from UK’s PRA

WazirX Reports Breach to FIU, Reaches Out to 500+ Exchanges After $235M Hack

When Will the Fall in Ethereum End? What's the Next Goal for ETH? Analysts Announced!

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!