Price: $0.40099 3.1292%
Market Cap: 58.9B 1.8104%
Volume (24h): 10.68B 0.4%
Dominance: 1.8104%
Price: $0.40099 3.1292%
Market Cap: 58.9B 1.8104%
Volume (24h): 10.68B 0.4%
Dominance: 1.8104% 1.8104%
  • Price: $0.40099 3.1292%
  • Market Cap: 58.9B 1.8104%
  • Volume (24h): 10.68B 0.4%
  • Dominance: 1.8104% 1.8104%
  • Price: $0.40099 3.1292%
Home > Information news > Curve DAO whales cash in 30% price dip, CRV makes reversal move

Curve DAO whales cash in 30% price dip, CRV makes reversal move

Release: 2024/06/19 16:42 Reading: 302

Original author:Todayq News

Original source:https://news.todayq.com/curve-dao-whales-cash-in-30-price-dip-crv-makes-reversal-move/

Curve DAO whales cash in 30% price dip, CRV makes reversal move

Whale Activity Fuels CRV Token Surge

On June 13, 2024, the Curve DAO (CRV) token witnessed a significant price drop of over 30% after founder Michael Egorov borrowed $95.7 million against $141 million in CRV, raising concerns over liquidation risks.

Whale Withdrawals from Binance

This price crash attracted the attention of crypto whales who seized the opportunity to withdraw substantial amounts of CRV tokens from exchanges. According to on-chain analytics firm Lookonchain, four wallets withdrew a combined 42.4 million CRV tokens, valued at $14.9 million, from Binance, the world's largest cryptocurrency exchange.

Price Rebound

Following these withdrawals, CRV's price experienced a notable surge. At the time of writing, it is trading near $0.35, recording a significant 16% upside momentum in the last 24 hours. However, trading volume has declined by 16% over the same period.

Crypto Market Recovery

Despite these fluctuations, the overall cryptocurrency market appears to be in a recovery phase, currently up by 1.2%. Leading coins such as Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) have seen price increases of 3%, 2.5%, and 2.8% respectively in the past day.

Significance

This whale activity highlights the dynamic nature of the crypto market, where significant price movements can be triggered by actions of large holders. It also demonstrates the strategic behavior of these investors who often exploit market uncertainties to strengthen their holdings.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.