According to BlockBeats, Christian, the co-founder of crypto fund NDV and a notable NFT whale, has clarified on social media that his purchase of 400,000 USDT was not for buying CRV but for purchasing locked CVX. He stated that the CRV he received was from a previous purchase and did not cause a market crash. He further explained that the dip was due to other whales transferring tens of millions of tokens, which were used as collateral.
Previously, some on-chain analysts had speculated that an address linked to Christian had purchased CRV worth 400,000 USDT from Curve founder Michael Egorov on June 21 at an off-market price of 0.107 USDT. The entire amount was reportedly sold the next day at a price of 0.333 USDT per unit, causing a 5% drop in the CRV market. On June 28, the same address reportedly received an equivalent amount of CRV from the Curve founder again.
Christian's clarification aims to dispel rumors and speculation about his involvement in the recent market fluctuations. His statement provides a different perspective on the events, attributing the market dip to the actions of other large-scale investors rather than his own trading activities.