DeFi Boss Sells These Cryptocurrencies to Avoid Explosion in Altcoin, Which Dropped by 40 Percent!

Curve Finance founder Michael Egorov started selling altcoins to hedge his futures position.

Blockchain analysis firm Arkham announced that Egorov's $140 million CRV position was at risk of liquidation and that he paid $60 million annually to maintain his position in LlamaLend.

According to the data provided by the on-chain analysis platform Lookonchain, Michael Egorov started selling heavily on Curve (CRV) and UwU Lend (UWU).

The reason behind the sale was the decline in the price of CRV and the position that Egorov continued to hold for almost years.

The data revealed that Michael Egorov sold 3.1 million CRV worth 810 thousand dollars and UWU worth 33 thousand dollars on June 13.

Curve DAO (CRV) price fell by 29.23% in the last 24 hours, dropping to $0.25.

He has been trying to maintain this position for a long time

Egorov continues to hold the position in question since 2022, when FTX is on the brink of bankruptcy. However, in almost every market crash, the position in question faces the risk of liquidation, leaving Egorov in a difficult situation.

In his latest post, Arkham stated that if the CRV price drops another approximately 10%, these positions could be liquidated.