Token

2024

Fantom

Foundation

<ul class="news-points">
 <li>SpotOnChain reports a whale linked to Fantom Foundation sold 357,000 CVX, causing a 5% price drop.</li>
 <li>CVX trades at $3.15, down 9.2% from its recent high.</li>
 <li>Convex Finance’s total value locked (TVL) slipped to $1.24 billion, down 1.59% from the previous day.</li>
</ul>
Convex Finance’s CVX token plunged 5% early Friday following a massive sell-off by a wallet linked to the Fantom Foundation, according to on-chain data from SpotOnChain.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 A wallet linked to Fantom Foundation sold 357,108 <a href="https://twitter.com/search?q=%24CVX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CVX</a> for 1.15M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a> in the past hour, causing the price to drop ~5%. Notably, this wallet spent $12M to buy 436K <a href="https://twitter.com/search?q=%24CVX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CVX</a> at ~$28 in Mar 2022 and then sold the tokens over the past 2 years at only ~$3.38 ($1.49M). That is a loss of… <a href="https://t.co/DjX6Moavny" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/DjX6Moavny</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1806609950329991203?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 28, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
The transaction, which involved over 357,000 CVX tokens worth $1.15 million, triggered a wave of selling pressure and wiped out recent gains for the cryptocurrency.
Early Friday morning, CVX experienced a price decrease and increased selling pressure following news of the whale transaction. As of press time, the token is trading at $3.15, a 9.2% decline from its recent intraday high of $3.44…
The post <a href="https://coinedition.com/convex-finances-cvx-token-plunges-after-major-sell-off-by-fantom-whale/" rel="noopener noreferrer nofollow">Convex Finance’s CVX Token Plunges After Major Sell-Off by Fantom Whale</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Convex Finance’s CVX Token Plunges After Major Sell-Off by Fantom Whale

Coin Edition

Outros artigos publicados em 28 de jun. de 2024

Alien Worlds Engages Players in Metaverse

Cosmic Kittens (CKIT) Is Set to Explode but Will Bitcoin (BTC) Continue Its Bull Ride?

Aptos Collaborates With Alibaba To Introduce Alcove To Transform Asia’s Web3 Landscape

Saakuru Labs and Khuga Labs Team Up for Exciting New Game Launch

Debate Impacts Meme Coins

BlockDAG’s $5M Daily Sales Boom: Solana Slumps, Filecoin Stays Strong—Who’s Leading the Bullish C...

Join our free newsletter for daily crypto updates!