June 13, 2024 Grandpa checks in

The CRV positions pledged by Curve founder Michael were finally liquidated after several crises, although we can't see any rescue measures from Michale. It is reported that Michale has spent 57 million US dollars to buy two luxury houses in Europe, and these funds come from the stablecoins borrowed by pledging CRV. The positions liquidated this time exceeded 100 million US dollars.

Looking back at the past few CRV liquidation crises, there is no doubt that Michale took advantage of the community's support for the Curve project, and he himself knew that the liquidity of CRV could not meet his shipment needs, so he adopted the method of "pledge cash", which is also a common trick in the financial circle. This liquidation may not be a bad thing for the CRV price. After all, the liquidation price is equivalent to the price sold by the founder, and at the same time, a group of people are tied together to pull the price.

The market is more worried about whether the price of CRV will fall indefinitely or even return to zero. In fact, as long as Curve does not have any problems, it is basically fine, but the continuous decline in its TVL is a challenge for the price. As for whether the price can eventually rebound or return to a high level, it depends on the value growth, which may be difficult, but liquidation is often a short-term price deviation behavior, so you can consider buying.

As for the market, it is still under pressure these days, but looking at the trend of Bitcoin and Ethereum, it has gained some support in the short term, but the price difference is not cost-effective, so I will wait for another wave. The current market trend is not clear, and I would suggest that the cottage industry should make less configurations, and first consider Ethereum, which is both stable and cost-effective. Secondly, coins with unbalanced prices such as CRV can also be configured in batches.

Thank you for your attention and likes.#CRV