Amid continuing recovery, Curve DAO (CRV) is attracting investor attention due to whale activity in its market.

This move is likely to impact the asset's price. Today, data from crypto analyst Spot on Chain highlighted that the founder of Curve DAO, Michael Egorov

Amid continuing recovery, Curve DAO (CRV) is attracting investor attention due to whale activity in its market. Today, data from crypto analyst Spot on Chain highlighted that the founder of Curve DAO, Michael Egorov, sold huge amounts of CRV tokens, a move that is likely to impact the asset’s price.

Egorov dumps 468,769 CRV

According to data posted on X by Spot on Chain, Michael Egorov executed a huge transaction, selling 468,769 CRV tokens for 238,171 USDC at an average price of 0.508.

On Dec 17 and 18, he bought 1.226M $CRV at an average price of $1.114 ($1.37M).

Due to recent price declines, that investment is now at a $745K loss (-54.6%).

Follow @spotonchain for more updates now!https://t.co/4d5yBBijLZ pic.twitter.com/afApBRP0au

— Spot on Chain (@spotonchain) December 20, 2024Earlier this week, one of Egorov’s wallets got liquidated. The liquidated wallet had 918,830 CRV tokens (worth $898,000). The liquidation comes two days after he bought new CRV tokens to support the price of the declining token.

Recently, CRV has been showing strong signs of recovery following a substantial price drop. In the past two weeks and seven days ago, the token rose by 30.7% and 16.5% respectively. Today, the asset saw a price hike of 1.5% recorded over the past 24 hours. As of press time, its price is trading at $0.512. The jump comes amid growing bullish sentiment and rising investor interest in the token.

With the figures above, CRV has been one of the top performers in the crypto market over the past two weeks. As traders become more confident in the asset’s growth potential, it is likely that we’ll see more buying activity in the coming days.

This price surge has also been accompanied by a significant increase in its Open Interest (IO), climbing to a total of $116.85 million. The rise in both price and trader enthusiasm suggests that CRV is gaining momentum amidst its ongoing uptrend.According to data from Coinglass, the IO for CRV rose by $1.82 million over the past 24 hours, pushing the total to $116.85 million. An increase in open interest normally indicates that traders are becoming more confident in the asset’s growth potential. The renewed confidence is triggered by bullish sentiment, as investors increasingly believe that CRV has the ability to recover its losses and even climb to new highs.