DWF Labs Faces Losses On $CRV Deposits As Reserve Expands Holdings

DWF Labs has recently deposited all of its OTC-bought $CRV tokens to Binance, realizing a notable loss in the process.

Over the past 28 hours, DWF Labs moved 12.5 million $CRV, worth $4.12 million, to Binance. However, just 9 hours ago, 10.5 million $CRV, valued at $3.44 million, was transferred out.

The OTC buying price for these tokens was $0.40 each, while the average deposit price on centralized exchanges was $0.33. This discrepancy suggests that DWF Labs is facing an estimated loss of $875,000, which represents a 17.5% decrease in value.

In a contrasting move, the decentralized stablecoin platform Reserve Protocol ($RSR) has been actively accumulating $CRV. Over the past six days, Reserve, via market maker @GSR_io, purchased 2.03 million $CRV for $6.45 million. This transaction involved sending 2.03 million $USDC to @GSR_io from the address 0x0cD…a13, and receiving 6,450,704 $CRV from GSR Markets, at an average purchase price of $0.314.

Reserve Spent $1 Million To Acquire 2.5 Million $CRV Last August 

Additionally, Reserve was among the buyers of OTC $CRV from Curve’s founder last August, spending $1 million to acquire 2.5 million $CRV at $0.40 each. Currently, Reserve holds a total of 19.41 million $CRV, valued at $6.38 million.

These contrasting strategies highlight the volatility and complexities within the $CRV market. While DWF Labs is grappling with losses, Reserve Protocol’s aggressive accumulation reflects confidence in the token’s long-term value.

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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