Curve Founder Explodes! Nearly 920,000 CRV Liquidated, Worth Nearly 900,000 USD
On December 19, according to monitoring by Shield, the address of Curve Finance founder Michael Egorov has been liquidated, involving 918,830 CRV, worth approximately 882,660 USD. This wave of liquidation is like a "depth bomb," exposing the hidden potential risks in the DeFi market.
Michael's previous operations of high-leverage collateralization of CRV for cashing out have long made the market uneasy, and now it has finally reached the edge of risk. Although the scale of liquidation is not astronomical, it undoubtedly impacts the liquidity and market sentiment of CRV. Players holding CRV may need to brace themselves as this selling pressure could make it difficult for CRV prices to find a breather in the short term.
Interestingly, as the founder of a star project in the DeFi world, Michael's actions can be considered a "reverse textbook": on one hand, letting the market tell the story of "decentralization," while on the other hand, self-destructing due to high leverage. The trust foundation of DeFi is not to be played with like this!
Whales turn around, small fish suffer, CRV bulls should prepare for shock absorption, and follow the hunters for low valley gold digging!
