分散的財務（DEFI）部門已經採取了重要的步驟。

一個錢包，0x5A8，被認為屬於曲線財務的創始人邁克爾·埃格羅夫（Michael Egorov），似乎賣出了很多CRV令牌。

A significant step has been taken in the decentralized finance (DeFi) sector. A wallet, 0x5a8, which is thought to belong to Michael Egorov, the founder of Curve Finance, seems to have sold quite a lot of CRV tokens.

分散的財務（DEFI）部門已經採取了重要的步驟。一個錢包，0x5A8，被認為屬於曲線財務的創始人邁克爾·埃格羅夫（Michael Egorov），似乎賣出了很多CRV令牌。

This particular wallet sold 1 million CRV for 515048 USDC at an average price of $0.515. This might be the latest in a series of transactions aimed at liquidating Egorov’s assets, but it has raised quite a few eyebrows in the DeFi community.

這個特殊的錢包以515048 USDC的平均價格出售了100萬CRV，價格為0.515美元。這可能是一系列旨在清算Egorov資產的交易中的最新一項，但它在Defi社區引起了很多關注。

Significantly, 18 hours before the sale, Wallet 0x5a8 received 1.997 million CRV, valued at about $1.03 million, from Wallet 0x7a1, which most believe is linked to Egorov. After the sale of 1 million CRV, Wallet 0x5a8 now holds just under 1 million CRV, worth approximately $512,000. This recent transaction, combined with previous sales, suggests that Michael Egorov might be liquidating a large chunk of his holdings in the token.

值得注意的是，出售前18小時，錢包0x5A8獲得了19.97億CRV，價值約為103萬美元，來自Wallet 0x7a1，大多數人認為這與Egorov有關。出售100萬CRV後，Wallet 0x5A8現在持有不到100萬CRV，價值約512,000美元。這項最近的交易以及以前的銷售表明，邁克爾·埃格羅夫（Michael Egorov）可能正在清算其在代幣中的大部分持股。

A Flurry of Sales in the Past 48 Hours

過去48小時的銷售量

This recent sale of 1 million CRV tokens is not an isolated event. In the past two days, Wallet 0x5a8 has likely sold a total of 1.469 million CRV for 753,229 USDC at an average price of $0.513. The combined value of these sales paints a picture of a significant liquidation of holdings, possibly signaling a change in strategy or a response to broader market conditions.

最近出售100萬個CRV代幣並不是一個孤立的事件。在過去的兩天中，Wallet 0x5A8可能以753,229 USDC的平均價格出售了14.69億CRV，平均價格為0.513美元。這些銷售的綜合價值描繪了大量持股清算的圖片，可能標誌著戰略的變化或對更廣泛的市場條件的反應。

Michael Egorov (@newmichwill), founder of #Curve Finance, appears to be selling $CRV again!

#Curve Finance的創始人Michael Egorov（@newmichwill）似乎再次出售$ CRV！

18 hours ago, he transferred 1.997M $CRV (worth $1.03M) to the wallet “0x5a8.”

18小時前，他將1.997億美元的CRV（價值103萬美元）轉移到了錢包“ 0x5A8”。

Just now, this wallet sold 1M $CRV for 515,058 $USDC at an average price of $0.515, leaving 997K $CRV… https://t.co/GXUzvBOhpe pic.twitter.com/5DalDRgHfv

剛才，這個錢包以515,058美元的價格以0.515美元的價格出售了100萬$ CRV，留下997K $ CRV…https：//t.co/gxuzvbohpe pic.twitter.com/5daldrghfvv

— Spot On Chain (@spotonchain) March 26, 2025

- 鏈上（@spotonchain）2025年3月26日

The context is that the price of CRV has varied widely in recent months. For the last several days, the price of CRV has been hanging just over the $0.50 line, with a significant drop that possibly nudged Egorov to offload some of his stake. With CRV’s price in such a state of flux, watchers of these deals are trying to get a read on where the token might be headed next.

背景是CRV的價格在最近幾個月中變化很大。在過去的幾天中，CRV的價格一直在$ 0.50的線路上懸而未決，大幅下降的價格可能使Egorov輕描淡寫，以卸下他的一些股份。隨著CRV的價格在這種情況下，這些交易中的觀察者正試圖閱讀下一個令牌可能會進入的位置。

What’s Behind the Recent CRV Sales?

最近的CRV銷售背後是什麼？

DeFi enthusiasts have been left wondering why Michael Egorov has sold off so much CRV, considering that he is the founder of Curve Finance, the decentralized exchange that is one of the top three in the ecosystem. The most straightforward explanation is that he needs money, that he has some personal financial situation that has not yet come to light. Another possibility is that he is doing some sort of financial engineering with his own CRV and that of other liquidity providers to boost the price of CRV at a time when zooming past $1.00 is indispensable for some sort of up-or-down scenario to play out.

Defi愛好者一直想知道為什麼邁克爾·埃格羅夫（Michael Egorov）賣出了這麼多CRV，因為他是曲線金融的創始人，這是分散的交易所，這是生態系統中前三名之一。最直接的解釋是他需要錢，他的個人財務狀況尚未曝光。另一種可能性是，他正在使用自己的CRV和其他流動性提供商進行某種金融工程，以提高CRV的價格，而在縮放超過1.00美元的情況下，對於某種上或減少的情況來說，是必不可少的。

One potential rationale for the sale might be connected to the cryptocurrency and DeFi sectors’ larger market dynamics. For the past several months, the market has been in a state of turbulence, with many tokens’ values swinging up and down—notably, the price of CRV. Global financial markets’ current uncertainty, when mixed with the DeFi space’s volatile sentiment, could yield a pretty good covering fire for Egorov if he were selling as a way to secure some profits and/or reallocate his assets for improved risk management.

銷售的一個潛在理由可能與加密貨幣和Defi部門更大的市場動態有關。在過去的幾個月中，市場一直處於動盪狀態，許多令牌的價值在上下擺動，尤其是CRV的價格。如果將全球金融市場與Defi Space的揮發性情緒混合使用，那麼如果Egorov賣出以確保一些利潤和/或重新分配其資產以改善風險管理的方式，則可能會為Egorov帶來相當不錯的覆蓋。

Another possible explanation for the sale could be tied to personal finances. As a major player in DeFi, Egorov’s fiscal health and his role at Curve Finance are probably central to most people’s minds when they think about the market’s perception of CRV. If he’s in need of cash for some reason—be it personal or business—that could certainly account for these large-scale sales we’ve seen recently.

出售的另一個可能的解釋可能與個人財政有關。作為Defi的主要參與者，Egorov的財政健康及其在Curve Finance中的作用可能是大多數人想到市場對CRV的看法時的核心。如果他出於某種原因（無論是個人還是企業）需要現金，那肯定可以解釋我們最近看到的這些大規模銷售。

Impact on Curve Finance and CRV

對曲線融資和CRV的影響

Selling 1.469 million CRV tokens in just two days is a big deal for the person who did it and for the whole Curve Finance ecosystem. Curve is one of the biggest decentralized exchanges, and it counts a lot on the success and even more on the adoption of its native token, CRV. When key people in the project—especially the founder—do large-scale sell-offs, that can

對於這樣做的人和整個曲線金融生態系統的人來說，僅在短短兩天內出售14.69億個CRV代幣是一件大事。曲線是最大的分散交流之一，它在成功方面很重要，甚至更多地是在採用其本土代幣CRV方面。當項目中的關鍵人物（尤其是創始人）被大規模拋售時，可以