According to data from on-chain analytics company Lookonchain, Curve Finance founder Michael Egorov has sold 72 million CRV tokens in a series of significant over-the-counter transactions to 15 entities for $28 million. This finding is confirmed by the Dune Analytics dashboard from Spotonchain and data from Nansen analyst Sandra Leow.



Egorov's selling behavior aligns with the difficult period faced by CRV tokens. Over the past month, its value has dropped by 22%, which is a result of several exploit attacks on the platform's multiple factory pools. Currently, the trading price of CRV tokens is $0.58.



Market analysts believe that Egorov's decision to sell CRV tokens is aimed at proactively reducing his debt on the DeFi platform, thereby avoiding potential liquidation risks associated with his significant loan positions. Lookonchain stated, "Curve Finance founder Michael Egorov sold a total of 72 million CRV tokens to 15 institutions/investors in over-the-counter transactions at a price of $0.40 each, receiving $28.8 million to repay the debt." (The Block)