CRV Whale Accumulation Drives 12% Surge In Price: Over 50 Million Tokens Traded
Key Points:
- CRV Whale Accumulation: “0xDf14” accumulated 19.56M $CRV and staked it on Convex, boosting the price by 12%.
- “0x171c” transferred $CRV, signaling a potential decline.
- Michael Egorov’s $CRV actions on Silo and Aave added to the intrigue.
CRV Whale Accumulation has sparked a remarkable 12% surge in its price. The total volume of these transactions now exceeds 50 million $CRV tokens, equivalent to around $27 million in value.
Just six hours ago, wallet address “0xDf14” made a substantial withdrawal, taking out 5.12 million $CRV tokens, valued at approximately $2.7 million, from Binance.
The move is part of a larger trend, with the same wallet having withdrawn a total of 19.56 million $CRV, equivalent to around $10.33 million, from Binance over the past three days.
What’s intriguing is that this whale has gone further by staking all of its $CRV holdings on Convex, signaling strong confidence in the token’s future prospects.
Whale Activity Fuels CRV Surge
The impact of these whale movements on $CRV has been remarkable. The token witnessed a significant price surge of approximately 12% today, largely attributed to the accumulation efforts by these influential players.
Moreover, “0xEfb8” withdrew 5.78 million $CRV, equivalent to about $3.02 million, from Binance in the past seven hours. Meanwhile, “0x171c” appears to be preparing to offload $CRV, indicating potential market shifts.
Mixed Signals in CRV
However, not all news is bullish for $CRV. A whale known as “0x171c” transferred a notable 1,927,776 $CRV, valued at $998,973, to Binance.
Previously, “0x171c” removed liquidity from various pairs, including $CRV, $ETH, and $crvUSD (worth 3 million dollars) on Curve, hinting at a bearish sentiment during the ongoing bullish trend, which could potentially impact $CRV’s future performance.
In a surprising twist, “0x171c” received a substantial amount of $CRV, followed by adding liquidity.
Additionally, Lookonchain reported that after the recent $CRV price surge, Michael Egorov deposited a significant 23.26 million $CRV (equivalent to $12.3 million) into Silo.
Egorov then borrowed 3.75 million $crvUSD within just one hour. Subsequently, there was an exchange of 3.75 million $crvUSD for $USDT, and the debt was promptly repaid on Aave.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Author
Analysis
CRV Whale Accumulation Drives 12% Surge In Price: Over 50 Million Tokens Traded
Key Points:
- CRV Whale Accumulation: “0xDf14” accumulated 19.56M $CRV and staked it on Convex, boosting the price by 12%.
- “0x171c” transferred $CRV, signaling a potential decline.
- Michael Egorov’s $CRV actions on Silo and Aave added to the intrigue.
CRV Whale Accumulation has sparked a remarkable 12% surge in its price. The total volume of these transactions now exceeds 50 million $CRV tokens, equivalent to around $27 million in value.
Just six hours ago, wallet address “0xDf14” made a substantial withdrawal, taking out 5.12 million $CRV tokens, valued at approximately $2.7 million, from Binance.
The move is part of a larger trend, with the same wallet having withdrawn a total of 19.56 million $CRV, equivalent to around $10.33 million, from Binance over the past three days.
What’s intriguing is that this whale has gone further by staking all of its $CRV holdings on Convex, signaling strong confidence in the token’s future prospects.
Whale Activity Fuels CRV Surge
The impact of these whale movements on $CRV has been remarkable. The token witnessed a significant price surge of approximately 12% today, largely attributed to the accumulation efforts by these influential players.
Moreover, “0xEfb8” withdrew 5.78 million $CRV, equivalent to about $3.02 million, from Binance in the past seven hours. Meanwhile, “0x171c” appears to be preparing to offload $CRV, indicating potential market shifts.
Mixed Signals in CRV
However, not all news is bullish for $CRV. A whale known as “0x171c” transferred a notable 1,927,776 $CRV, valued at $998,973, to Binance.
Previously, “0x171c” removed liquidity from various pairs, including $CRV, $ETH, and $crvUSD (worth 3 million dollars) on Curve, hinting at a bearish sentiment during the ongoing bullish trend, which could potentially impact $CRV’s future performance.
In a surprising twist, “0x171c” received a substantial amount of $CRV, followed by adding liquidity.
Additionally, Lookonchain reported that after the recent $CRV price surge, Michael Egorov deposited a significant 23.26 million $CRV (equivalent to $12.3 million) into Silo.
Egorov then borrowed 3.75 million $crvUSD within just one hour. Subsequently, there was an exchange of 3.75 million $crvUSD for $USDT, and the debt was promptly repaid on Aave.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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