The cryptocurrency market is buzzing with speculation following Curve Finance founder Michael Egorov’s recent sell-off spree. Despite CRV’s ongoing price rally, Egorov has dumped nearly 2.5 million CRV tokens, raising concerns among investors about potential price declines.
Massive CRV Sell-Off Sparks Concerns
On March 26, blockchain data revealed that Egorov transferred nearly 2 million CRV tokens to wallet 0x5a8, which then sold 1 million CRV for $515,058 USDC at an average price of $0.515. The wallet still holds 997K CRV tokens.
Additionally, on March 24, he offloaded 468,769 CRV for $238,171 USDC at an average price of $0.508.
Michael Egorov (@newmichwill), founder of #Curve Finance, appears to be selling $CRV again!
— Spot On Chain (@spotonchain) March 26, 2025
18 hours ago, he transferred 1.997M $CRV (worth $1.03M) to the wallet “0x5a8.”
Just now, this wallet sold 1M $CRV for 515,058 $USDC at an average price of $0.515, leaving 997K $CRV… https://t.co/GXUzvBOhpe pic.twitter.com/5DalDRgHfv
Why Is Michael Egorov Selling CRV?
Interestingly, these tokens were purchased in December 2023 at an average price of $1.114—meaning Egorov is currently selling at a 54.6% loss. The ongoing sell-off suggests he might be trying to minimize further losses despite the recent price surge.
CRV Price Defies Bearish Sentiment
Despite concerns over Egorov’s liquidations, CRV price surged 12% in the last 24 hours, hitting $0.5560 from an intraday low of $0.4927. Over the past week, CRV has posted an impressive 23% gain, defying the usual downward pressure caused by large sell-offs.
Here is the performance of CRV CLICK HERE
According to market analyst CrediBULL Crypto, the CRV/XRP trading pair indicates a bullish breakout for Curve Finance. While XRP remains range-bound, the analyst suggests CRV is primed for a significant price pump.
Investor Sentiment Remains Uncertain
Although Egorov’s sales may signal short-term caution, some traders believe the market is absorbing the selling pressure well. However, the uncertainty surrounding future sell-offs continues to keep investors on edge.
Final Thoughts
As the Curve DAO token battles between bullish momentum and founder-driven sell-offs, traders should closely monitor CRV’s price action. With speculation mounting, whether this marks a buying opportunity or a warning sign remains to be seen.
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