The reserved item for every recent big drop: The CRV mortgage position of the founder of Curve is approaching the liquidation line again~
As early as August 2023, Curve founder Michael Egorov held about 50% of the circulating supply of CRV (about 500 million), but could not sell it (no liquidity, image consideration, etc.), so he chose to mortgage CRV to borrow cash.
DeBank data shows that as of the time of writing, the largest single loan was on UwU Lend - depositing about 72.92 million CRV and borrowing about 16.5 million US dollars, with a health factor of 1.1, which means that as long as CRV falls less than 10%, it will be liquidated....
In addition, the 19.48 million CRV on Silo and the 46.02 million CRV on Fraxlend also have health factors below 1.13, which can be said to be surrounded by enemies, especially Fraxlend will quickly compound interest after reaching 100% utilization, raising the liquidation line~
For CRV, the story of "the wolf is coming" has been shouted too many times, and it is only a matter of time before it becomes true😅
