• Curve DAO Token (CRV) price fell to a low of $0.44 on Wednesday.
• Analysts point to potential declines to liquidation level below $0.40.
• CRV has declined by 17% this past week due to an exploit on multiple stablepools on Curve.
Curve DAO Token Price Declines
Curve DAO Token (CRV) price fell to lows of $0.44 on Wednesday, with bears still in control since the recent exploit on multiple stablepools on Curve. The next price level to watch is $0.4. Elsewhere, crypto markets are largely uneventful as traders eye directional clarity after last week’s price massacre.
Potential Liquidation Level
Analysts point to potential declines to liquidation level below $0.40 for CRV due to efforts taken in the form of OTC sales of CRV and possible whale dumping which has traders anxious. Much of the jitters are down to price moving closer to a liquidation level after Curve Finance founder Michael Egorov sold 210 million CRV at an average price of $0.40 with buyers agreeing to an unenforceable lockup period of six months.
Speculation About OTC Buyers
Speculation is that many of the OTC buyers have moved the acquired CRV to exchanges which could mean that if price breaks down further, it could potentially reach a liquidation level of $0