If There Is Another 10 Percent Drop, The Founder Of This Altcoin On Binance Will Be Liquid!

Troubled times began to occur at Curve Finance (CRV).

The chaotic process in the cryptocurrency industry continues. The sharp declines caused many crypto investors to lose all the profits they made during the last rise. It seems that many investors have suffered losses from this process.

Michael Egorov, the founder of Curve Finance (CRV), an altcoin listed on Binance, started to experience difficult times again. Egorov, who came back from being liquid with OTC CRV sales during the last bear season, is on the verge of liquidation again.

Ember, a successful research company, recently shared a report about Michael Egorov and provided the following information:

While the market has fallen in the last two days, the CRV price has also experienced sudden withdrawals. Curve founder Michael Egorov's lending position has also started to raise red alert again.

In August last year, to avoid liquidation caused by the drop in CRV prices, Michael Egorov sold 159.4 million CRV to 33 investors/institutions in an over-the-counter (OTC) transaction for 63.76 million stablecoins, with the selling price being $0.4.

Michael currently has a total of 371 million CRV ($156 million) mortgaged across 6 lending platforms through 5 addresses.

As the price of CRV fell, Michael's lending positions on various platforms entered the danger zone again.

The lending health ratio of multiple positions has dropped to around 1.1 (so if the CRV price drops another 10%, Egorov will start to be liquidated).

At the time of writing our news, CRV is trading at $0.436. CRV, which has received a reaction from $ 0.36 in the recent declines, may liquidate the founder of Curve if it experiences another sharp collapse.

Stay tuned for updates.