The CRV token has maintained a relatively stable position throughout the trading week, despite the broader cryptocurrency market experiencing a slight downturn.
Trading within a narrow range between $0.574 and $0.511, CRV has seen minimal fluctuations, recording a marginal 1% gain over the week while experiencing a slight 0.5% loss today.
Insights from on-chain reports provided by Spotonchain shed light on recent activity involving a significant whale investor identified as 0xd4a, associated with Curve Finance.
Whale 0xd4a (@CurveFinance investor) sold 2.11M $CRV for 1.17M $USDC at ~$0.556 in the past 14hrs.
Notably, the whale just returned after 2+ years of dormancy on Dec-29-23 to sell 1.13M $CRV at ~$0.676, right before the price dropped 33%.
Now still holds 15.11M $CRV ($8.27M).… pic.twitter.com/9k7hjjUQGS
— Spot On Chain (@spotonchain) February 23, 2024
In the past 14 hours, the whale sold 2.11 million CRV tokens for 1.17 million USDC at an average price of approximately $0.556.
CRV Whales Makes Notable Transfers To Monitor
Notably, this whale investor has been vested with 56.07 million CRV tokens from Curve Finance since August 14, 2020, acquiring them at an average price of $1.93, totaling $108 million (though not the actual investment). Over time, the investor has allegedly sold 28.81 million CRV tokens via decentralized exchanges (DEX), Binance, and OKX at an average price of $1.83, amounting to $52.7 million.
Remarkably, after a hiatus of over two years, the whale resumed activity with the token on December 29, 2023, by selling 1.127 million CRV for 762,000 USDC at an average price of $0.676, just before the token’s price experienced a significant drop of up to 33%.
As of now, the investor still holds 15.11 million CRV tokens, valued at $8.27 million.
Amidst these developments, CRV token holders and market observers continue to monitor the asset’s performance, assessing both market trends and whale activity to anticipate potential shifts in its price dynamics.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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