CurveDAO’s native token, CRV, is once again approaching its all-time lows as the platform tries to recover from a significant liquidation event. According to Lookonchain, a whale recently deposited over $6 million worth of CRV to Binance, presumably intending to sell at a loss. The whale had initially bought the 22 million CRV after the liquidation, at a price of approximately $0.33. Selling now would result in a loss of around $1 million.

On June 13th, Curve founder Michael Egorov revealed that all his loans, valued at approximately $156 million, had been liquidated. He also mentioned that he had sold millions of CRV tokens in an organized transaction to one of the partners of NextGen Digital Venture, a crypto asset investment firm. Egorov sold 30 million of his not yet vested CRV to @Christianeth on June 13th to prevent any bad debt. These 30 million CRV will be received by him in portions by mid-August. Any CRV transactions from Egorov’s wallet to christian2022.eth are related to this deal.

Following Egorov’s liquidation, CRV experienced an all-time low of $0.239 on the same day. Currently, the token is trading at $0.28, marking a 98.3% drop from its peak of $15.37.

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