When onchain data is examined, it is seen that DWF Labs, one of the most well-known and at the same time most controversial market maker companies in the cryptocurrency market, has carried out some interesting transactions.
In transactions made in recent hours, 10.5 million CRV worth $3.48 million was sent to Binance from the company's over-the-counter (OTC) Curve Finance (CRV) address, which has not been monitored for nearly a year.
This move was interpreted as the company preparing to sell CRV tokens obtained via OTC. With the emergence of a major crisis on Curve Finance in August 2023, CRV founder Michael Egorov sold CRV to 33 institutions and investors via the OTC method at a price of $ 0.40. A total of 159.4 million tokens were sold, of which 12.5 million were purchased by DWF Labs.
If DWF Labs had sold its other tokens, it would have lost $717,000 from the trade. At the time of writing, it is trading at $0.327.
*This is not investment advice.