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Golden Finance reports that, according to on-chain analyst Yu Jin's monitoring, the 159.4 million CRV sold over-the-counter (OTC) by Curve founder Michael Egorov in August last year will end its 6-month lock-up period on February 1st. In August of last year, Michael Egorov sold 159.4 million CRV to 33 investors/institutions through OTC transactions at a price of $0.4. This was done to repay loans, avoiding liquidation on multiple DeFi platforms, and in exchange for 63.76 million US dollars in stablecoins. The CRV sold at that time, at a 30% discount to the market price, has a 6-month lock-up period (referred to as "moral lock-up," with no punishment or impact even if violated). The lock-up will end on February 1st, two days from now. Although the lock-up is not enforceable in any way, the majority of investors have complied by storing CRV in wallets, depositing it in Curve lock-ups, or using Convex. Only two small transactions were made to sell some CRV (12,500 CRV and 50,000 CRV). |
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Post time 11-2-2024 14:53:17