Notably, this price level was where Michael Egorov had sold his holdings following a prior hacking incident.
The CRV investor, who had invested 1 million USDT to acquire over 2 million CRV tokens, decided to move more than 600,000 CRV tokens to the Binance exchange. As of this writing, these CRV tokens were valued at approximately $240,000.co-founder, Egorov, had sold some of his CRV tokens in the past to mitigate a debt position that posed a significant risk to the platform and the DeFi ecosystem. Those sales were conducted over the counter to avoid impacting the token’s price.
However, this recent transfer has piqued the interest of many observers, raising questions about its implications.As per the exchange inflow and outflow chart on Santiment, there hasn’t been any noteworthy activity in terms ofThis balance suggested relative stability in the movement of CRV tokens on exchanges.What’s noteworthy from this flow data is that there are no clear signs of a sell-off by individuals who previously acquired CRV tokens over-the-counter .
The fact that the outflow and inflow numbers matched indicated that the tokens are moving within the ecosystem rather than being significantly offloaded onto exchanges.