分散的财务（DEFI）部门已经采取了重要的步骤。

一个钱包，0x5A8，被认为属于Curve Finance的创始人Michael Egorov，似乎已经售出了很多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.

分散的财务（DEFI）部门已经采取了重要的步骤。一个钱包，0x5A8，被认为属于Curve Finance的创始人Michael Egorov，似乎已经售出了很多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.

这个特殊的钱包以515048 USDC的平均价格出售了100万CRV，价格为0.515美元。这可能是一系列旨在清算Egorov资产的交易中的最新一项，但它在Defi社区引起了很多关注。

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小时，钱包0x5A8获得了19.97亿CRV，价值约为103万美元，来自Wallet 0x7a1，大多数人认为这与Egorov有关。出售100万CRV后，Wallet 0x5A8现在持有不到100万CRV，价值约512,000美元。这项最近的交易以及以前的销售表明，迈克尔·埃格罗夫（Michael Egorov）可能正在清算其在代币中的大部分持股。

A Flurry of Sales in the Past 48 Hours

过去48小时的销售量

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100万个CRV代币并不是一个孤立的事件。在过去的两天中，Wallet 0x5A8可能以753,229 USDC的平均价格出售了14.69亿CRV，平均价格为0.513美元。这些销售的综合价值描绘了大量持股清算的图片，可能标志着战略的变化或对更广泛的市场条件的反应。

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

#Curve Finance的创始人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小时前，他将1.997亿美元的CRV（价值103万美元）转移到了钱包“ 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

刚才，这个钱包以515,058美元的价格以0.515美元的价格出售了100万$ CRV，留下997K $ CRV…https：//t.co/gxuzvbohpe pic.twitter.com/5daldrghfvv

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

- 链上（@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的价格在最近几个月中变化很大。在过去的几天中，CRV的价格一直在$ 0.50的线路上悬而未决，大幅下降的价格可能使Egorov轻描淡写，以卸下他的一些股份。随着CRV的价格在这样的不断变化状态下，这些交易中的观察者正试图阅读下一个令牌可能会进入的位置。

What’s Behind the Recent CRV Sales?

最近的CRV销售背后是什么？

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爱好者一直想知道为什么迈克尔·埃格罗夫（Michael Egorov）卖出了这么多CRV，因为他是曲线金融的创始人，这是分散的交易所，这是生态系统中前三名之一。最直接的解释是他需要钱，他的个人财务状况尚未曝光。另一种可能性是，他正在使用自己的CRV和其他流动性提供商进行某种金融工程，以提高CRV的价格，而在缩放超过1.00美元的情况下，对于某种上或减少的情况来说，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.

销售的一个潜在理由可能与加密货币和Defi部门更大的市场动态有关。在过去的几个月中，市场一直处于动荡状态，许多令牌的价值在上下摆动，尤其是CRV的价格。如果将全球金融市场与Defi Space的挥发性情绪混合使用，那么如果Egorov卖出以确保一些利润和/或重新分配其资产以改善风险管理的方式，则可能会为Egorov带来相当不错的覆盖。

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.

出售的另一个可能的解释可能与个人财政有关。作为Defi的主要参与者，Egorov的财政健康及其在Curve Finance中的作用可能是大多数人想到市场对CRV的看法时的核心。如果他出于某种原因（无论是个人还是企业）需要现金，那肯定可以解释我们最近看到的这些大规模销售。

Impact on Curve Finance and CRV

对曲线融资和CRV的影响

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

对于这样做的人和整个曲线金融生态系统的人来说，仅在短短两天内出售14.69亿个CRV代币是一件大事。曲线是最大的分散交流之一，它在成功方面很重要，甚至更多地是在采用其本土代币CRV方面。当项目中的关键人物（尤其是创始人）被大规模抛售时，可以