CRV Dumps 50% In 1 Year: Founder’s Forced Liquidations A Pain For Holders
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jul 26 2024CRV Token Struggles Post-Hack: The CRV token of Curve has faced significant selling pressure following a hack in July 2023, exacerbated by forced liquidations of founder Michael Erogov's loans, leading to a drop in value below crucial support levels.
Community Initiatives and Market Outlook: Despite the challenges, there are positive developments such as the potential approval of spot Ethereum ETFs and community-driven initiatives to enhance liquidity between Solana and Ethereum, which could benefit the protocol in the long run.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
