The Curve DAO (CRV) token price briefly fell below $0.40 on Wednesday after DeFi project founder Michael Egorov made OTC transfers that were later transferred to Binance. According to PeckShield, one of the parties to the transaction with Egorov transferred 609,000 CRV to Binance. Analysts generally consider this to be a selling intent. 😯

However, a few hours later, the counterparty returned 609,000 CRV from Binance, and the token price recovered to $0.404. In August, Egorov sold $46 million worth of CRV to investors. Investors included Tron founder Justin Sun, trading firm Wintermute, and NFT investor Jeffrey Huang. 🚀