The native token of CurveDAO, CRV, is once again nearing its all-time lows as the platform tries to recover from a significant liquidation event. Lookonchain, a blockchain tracking firm, has reported that a whale deposited over $6 million worth of CRV to Binance, presumably with the intention of selling at a loss. The whale purchased the 22 million CRV tokens after the liquidation, at a buying price of approximately $0.33. If sold now, the loss would amount to around $1 million.

On June 13th, Curve founder Michael Egorov revealed that all of his loans, valued at around $156 million, had been liquidated. He also disclosed 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 tokens to @Christianeth on June 13th in order to prevent any bad debt. These tokens will be received by him in installments by mid-August. Any CRV transactions from Egorov’s wallet to christian2022.eth are related to this deal.

On the same day as Egorov’s liquidation, CRV plummeted to an all-time low of $0.239. Currently, CRV is trading at $0.28, representing a 98.3% decrease from its highest value of $15.37.

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