Let me talk about my opinion on CRV pledge.
At present, CRV has basically reached the warning line. If it continues to fall without replenishing margin, it will be very dangerous.
My opinion is different from most people. I think CRV pledge will eventually explode.
In principle, the 500 million CRVs in circulation cannot be sold directly to the market. This is because the founder locked the position to take into account the image and avoid the decline of the currency price. The explosion is equivalent to passive reduction of holdings. It just happens to sell the currency and get cash.
Those who trade stocks know that some original shareholders in the Chinese stock market often use this method to reduce their holdings of restricted shares. Originally, the restricted shares cannot be sold, so they are first pledged to obtain cash. When the position is exploded, they choose not to return the cash, and the restricted shares are liquidated to the market, which is called the market economy. The founder cried again and regretted that he should not have borrowed money at the beginning. The restricted shares were sold and the cash was obtained.
The script is the same, wait and see
