A notable money transfer took place between big market maker DWF Labs and DeFi platform Curve’s founder.
According to on-chain analysis platform Spot On Chain, DWF Labs sent 500 thousand dollars to Curve Finance founder Michael Egorov on April 3rd.
Shortly after, Egorov bought 826,764 CRV at a cost of 0.605 dollars using the entire 500 thousand dollars. Last August, Michael Egorov’s multi-million dollar CRV position was at significant risk due to declines in the market.
During those days, Michael Egorov sold CRV over-the-counter for 0.4 dollars to finance himself, with DWF Labs among the participants of these trades. The recent transfer implies that DWF Labs might be buying CRV through Egorov.
His wallet currently holds 12.5 million CRV from those days. According to CoinGecko data, CRV, which lost 1.2% in value in the last 24 hours, is currently trading at 0.609 dollars.
