CRV Sitting on Exchanges Reaches an All-Time High as CRV Price Hits All-Time Low

CRV, the token behind the Curve stablecoin exchange, fell 22% to 23.9 cents, an all-time low, on the same day exchange reserves of CRV reached an all-time high. CryptoQuant data showed exchanges holding 613 million CRV worth over $177 million, a 76% rise from the prior day, which the article says is likely a sign traders are offloading tokens. The price decline forced liquidations of Curve founder Michael Egorov, and Arkham Intelligence reported that his positions worth $140 million in CRV were liquidated across 5 protocols. Egorov said on X that the liquidations left 10M of bad debt and that he had already repaid 93% of it.