CRV Archives - Top Crypto Game https://topcryptogame.com/tag/crv/ The latest crypto news! Thu, 13 Jun 2024 09:51:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://topcryptogame.com/wp-content/uploads/2022/01/cropped-favicon-32x32.png CRV Archives - Top Crypto Game https://topcryptogame.com/tag/crv/ 32 32 Curve founder hit with $27M liquidation as CRV drops to historic low https://topcryptogame.com/curve-founder-hit-with-27m-liquidation-as-crv-drops-to-historic-low/ https://topcryptogame.com/curve-founder-hit-with-27m-liquidation-as-crv-drops-to-historic-low/#respond Thu, 13 Jun 2024 09:51:23 +0000 https://topcryptogame.com/curve-founder-hit-with-27m-liquidation-as-crv-drops-to-historic-low/ Michael Egorov, founder of Curve Finance, faced liquidation earlier today after the CRV token plummeted to an all-time low of $0.219. $27 million liquidated On-chain analyst EmberCN reported that Egorov’s lending positions were largely liquidated, totaling around 100 million CRV, valued at $27 million. Despite this, he still holds 39.35 million CRV, securing $5.4 million […]

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Michael Egorov, founder of Curve Finance, faced liquidation earlier today after the CRV token plummeted to an all-time low of $0.219.

$27 million liquidated

On-chain analyst EmberCN reported that Egorov’s lending positions were largely liquidated, totaling around 100 million CRV, valued at $27 million. Despite this, he still holds 39.35 million CRV, securing $5.4 million in stablecoins on a lending platform.

However, these remaining assets are not at immediate risk of liquidation, as the loan health rate has surpassed 1.

Blockchain intelligence platform SoSo Value noted that Egorov’s situation triggered widespread CRV liquidations across various platforms. Although his actions didn’t create direct selling pressure, he reportedly profited quickly in another manner, potentially disadvantaging lenders and former CRV investors.

It added:

“Curve, as an established DeFi project, is known for its quality and long-term profitability. However, whether this incident will impact Curve’s standing and reduce community cohesion remains to be seen.”

Notably, Arkham Intelligence previously warned that Egorov’s CRV positions worth $140 million across five protocols were at risk of liquidation if the digital asset’s price dropped 10%. The company explained:

“$50 million of Egorov’s crvUSD borrows are on Llamalend, which currently costs him ~120% APY. This is because there is almost no remaining crvUSD available for borrowing against CRV on Llamalend. 3 of Egorov’s accounts already make up over 90% of the borrowed crvUSD on the protocol.”

Meanwhile, this isn’t the first time Egorov’s substantial borrowing on Curve has disrupted the market. Last year, a hacking event resulted in sharp declines in CRV price, forcing several DeFi protocols to prohibit additional CRV borrowing, citing the contagion risk from Egorov’s actions.

Curve’s soft liquidation

Amid the market turmoil, Egorov praised Curve Finance’s soft liquidation mechanism on June 12 for successfully handling a real-world test during the recent UwU lending platform hack.

According to LLAMMA documentation, new loans deposit collateral into multiple bands across the automated market maker (AMM). So, unlike traditional liquidation with a single price, LLAMMA has several liquidation ranges and continuously liquidates collateral if necessary.

He said:

“The system showed a fantastic performance. This gave time for liquidators to prepare funds and OTC-liquidate the hacker’s position. As a result, the system has no hacker’s funds left, no bad debts, everything operates well.”

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Crypto Whales Are Buying These 3 Altcoins… https://topcryptogame.com/crypto-whales-are-buying-these-3-altcoins/ https://topcryptogame.com/crypto-whales-are-buying-these-3-altcoins/#respond Fri, 30 Jun 2023 18:24:32 +0000 https://topcryptogame.com/crypto-whales-are-buying-these-3-altcoins/ Whales are big part of the crypto ecosystem. Their heavy purchases and sell-offs are huge indications of altcoins market trends. Here are three tokens whales have accumulated since December. 🚀Find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access🚀 Join Altcoin Buzz Access Pro FOR FREE➡️ ●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬▬● 📖 Read the Article: […]

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Whales are big part of the crypto ecosystem. Their heavy purchases and sell-offs are huge indications of altcoins market trends. Here are three tokens whales have accumulated since December.

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⏱ TIMESTAMPS
0:00 Crypto Whales Accumulating Altcoins
0:54 Polygon MATIC
3:21 Chiliz CHZ Socios
5:07 Curve Finance CRV

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#polygon #matic #altcoin

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BIGGER SHOCK Than FTX | Solana losing it to Polygon | Aave exploit and more crypto news! https://topcryptogame.com/bigger-shock-than-ftx-solana-losing-it-to-polygon-aave-exploit-and-more-crypto-news/ https://topcryptogame.com/bigger-shock-than-ftx-solana-losing-it-to-polygon-aave-exploit-and-more-crypto-news/#respond Sat, 01 Apr 2023 18:16:42 +0000 https://topcryptogame.com/bigger-shock-than-ftx-solana-losing-it-to-polygon-aave-exploit-and-more-crypto-news/ There is about to be a bigger shock in Crypto than FTX and thats the Digital Currency Group and Genesis Trading. Solana is Losing to Polygon with MAgic Eden, and Aave is exploited with the CRV Token! 🚀Find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access🚀 Join Altcoin Buzz Access […]

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There is about to be a bigger shock in Crypto than FTX and thats the Digital Currency Group and Genesis Trading. Solana is Losing to Polygon with MAgic Eden, and Aave is exploited with the CRV Token!

🚀Find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access🚀 Join Altcoin Buzz Access Pro FOR FREE➡

⏱ TIMESTAMPS
00:00 INTRO
0:36 BTC Bottom is in when this happens
1:50 FTX causes crypto Regulation?
2:54 FTX Letter to employees
3:53 Sam Bankman-Fried is invested in Twitter?
4:36 The BIG SHOCK to crypto!
5:49 Magic Eden Chooses Polygon
6:18 AAVE faces bad debt with exploiter

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(
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Please do your own due diligence and rating before making any investments and consult your financial advisor.Ibelieve that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

Altcoin Buzz may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners.

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