Curve DAO crisis approaching? Egorov liquidation crisis triggers market panic, CRV plummets 13%!
The recent market turmoil of Curve DAO (CRV) has raised concerns: Has founder Michael Egorov really been liquidated? Although he firmly denied it, blockchain data reveals a different story. On December 19, the analysis company PeckShield reported that Egorov's account had a major liquidation on that day, involving 918,830 CRVs, worth about $882,000. This liquidation took place against the backdrop of a 13% drop in the price of CRV, which made the market worried about the subsequent trend.
In response, Egorov said that these tokens were related to the "uwu" hacking incident on June 10, and were "receipts" promised by Sifu to repay the losses from the hacking attack, rather than assets he held himself. However, despite his clarification, the market still failed to appease, and the price of CRV once fell to $0.90. Although it has recovered slightly, the mood is still uneasy.
It is worth noting that despite the volatility, Curve DAO still showed some signs of recovery. The decentralized stablecoin scrvUSD launched by Curve Finance has increased the attractiveness of the ecosystem, and the pledge volume has continued to grow to $839 million. This means that under the shadow of the giant's liquidation, Curve still provides a ray of hope for long-term investors.
The future of CRV is still confusing, and the market sentiment is severely divided. If Egorov's clarification is not enough to dispel market concerns, the price may continue to fluctuate. Investors can keep an eye on it, evaluate market changes in a timely manner, and seize potential opportunities.
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