CRV founder's mortgage crisis detonated the market, but the million-dollar sell-off became a carnival for leeks

CRV founder Micheal has once again become the focus. His mortgaged CRV tokens of more than 100 million US dollars were forcibly liquidated by multiple lending platforms due to the market crash. The huge amount of tokens sold in an instant caused the market to panic for a time, and the currency price plummeted by 40%. However, this seemingly catastrophic sell-off unexpectedly became a carnival feast for some "smart leeks".

Micheal's mortgage liquidation this time is not an isolated case. Similar liquidation incidents are common in the crypto circle. From SU ZHU of Three Arrows Capital to the liquidation of FTX, each time it affects the nerves of the market. However, in the DeFi world of blockchain, the liquidation mechanism has its own unique operating logic.

When the price of CRV tokens plummeted and triggered the liquidation line of the lending platform, the liquidator intervened and purchased the mortgaged CRV tokens at a price lower than the market price. This not only helped the platform recover the loan, but also brought huge profits to the liquidator. As a result, CRV founder Micheal was relieved of huge debt pressure.

In this sell-off, the plunge of CRV tokens caused a brief panic in the market, but with its strong community foundation and a wide range of participants, the price of the currency quickly recovered. A large number of investors took the opportunity to buy low-priced CRV, looking forward to its future rebound.

This sell-off caused by the mortgage crisis of the founder of CRV not only reveals the volatility and uncertainty of the cryptocurrency market, but also shows the unique charm of the liquidation mechanism in the DeFi world. In this world full of opportunities and risks, only those investors who dare to take risks and are good at seizing opportunities can get a share of this feast.

And Brother Fa has also been ambushing a currency that is about to explode recently.

It is expected to be 30% in the short term and 5-8 times in the long term.

Again, if you come to me on your own initiative, I will take you ashore, and you can just lie down.

Comment area deduction 6 to bring you into the circle for free! Yewu #6月份热门板块 #欧洲杯开赛 #CRV