Was the liquidation of CRV intentional by the founder?
A few days ago, everyone was paying attention to the liquidation of CRV founder Junbao and the record low price of CRV.
CRV was favored by many people during the last bull market and was considered a good project.
But in this cycle, CRV performed normally. In each cycle, new narratives emerge, and many old coins do not have mature commercial application scenarios, so they are destined to be forgotten.
In 2023, the founder of CRV was exposed by the media: he spent $41 million to buy a luxury house in Melbourne. At the same time, it was also revealed that he spent $1,825 to buy a luxury house in Italy in 2022.
It takes money to buy a luxury house. Although he holds a lot of CRV, he certainly cannot go to the secondary market to dump the market, because the wallet address is public and transparent and everyone is watching. And in another way of thinking, if the CRV worth $140 million is pledged and then $95 million is borrowed, can the borrowed money be "legitimately" used for consumption?
Some people may ask, for $95 million, $140 million of coins were liquidated, isn't this a good deal?
In fact, it is very cost-effective, which is equivalent to "selling" the coins in your hands at a price of nearly 70% off, which is better than going to the secondary market to slowly sell and smash the market. The methods and thinking of the big guys are always so advanced.
The people on the CRV project side do not have a bigger picture, and with the emergence of new coins and the continuous decline of old coins, the price will be lower and lower in the future. It is better to cash out during this bull market.
We have mansions, beauties and champagne. As for whether the leeks can eat instant noodles tonight, that is not the founder's consideration. $CRV
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