The Founder of Curve Raised $57.46m Through an OTC Sale
The founder of Curve raised $57.46 million through an OTC sale of CRV this month.
Curve, a decentralized finance (DeFi) platform, has always been in the limelight for its ambitious initiatives and dynamic growth. The recent OTC sale by its founder is yet another testament to its prowess and the confidence the market has in its value proposition. Here’s an analytical overview of the recently concluded OTC sale.
The founder of Curve successfully managed to raise a whopping $57.46 million via an Over-The-Counter (OTC) sale of CRV tokens this month. This is indicative of the growing trust and value investors place in Curve’s future potential.
Sales Timeline: A Curve Snapshot
The sale commenced on the 1st of August and saw a flux of investments over its course. By the end, the founders had successfully offloaded a total of 143.65 million $CRV to as many as 31 investors and institutions.
As all good things come to an end, so did the OTC sale. In the final two days, the sales velocity dropped significantly. On the penultimate day, only 1 million $CRV changed hands, being procured by a singular investor or institution. The transaction took place at precisely 5pm, marking one of the concluding sales of the event.
Major Participants in the Curve Sale
A diverse range of investors and institutions jumped at the opportunity to invest in $CRV during this sale. Here’s a brief rundown:
- Wintermute: Known for its strong market-making capabilities in the crypto space.
- DWF Labs: Their participation underscores the sale’s credibility.
- Gnosis Chain (×Dai): A formidable name in the DeFi space, bringing in both credibility and liquidity.
- Yearn Finance: With its involvement, it’s clear the OTC sale caught the attention of major players in the DeFi sector.
- Cream Finance and Reserve Protocol: Their purchase accentuates the diversified interest in Curve’s potential.
- Stake DAO, stake-capital.eth, and @cryptogle (ogle.eth): Their participation added further depth to the investor base, encompassing both institutions and influential individual entities.
Curve 创始人卖币应该已到达尾声：— 余烬 (@EmberCN) August 8, 2023
最近两天，Curve 创始人仅在昨天下午 5 点向 1 位投资者/机构出售了 100 万 $CRV 。
• 100 万 CRV → 0x622
自 8/1 开始 OTC 出售以来，Curve 创始人累计向 31 家投资者/机构出售了 1.4365 亿 $CRV ，换得资金 $5746 万。
推文由 @LionDEX_CN 赞助 pic.twitter.com/uTtahkufQ9
A Look at the Numbers
The OTC sale saw an impressive average sale of roughly 4.63 million $CRV to each participant, given the total of 31 investors/institutions. This means each transaction was, on average, worth approximately $1.85 million.
Over-the-counter sales, especially in the crypto domain, offer several advantages. For one, they allow for large volume trades without significantly impacting the market price of the token. Moreover, they enable discreet transactions, which can be a preference for many institutional or high-net-worth individual investors.
Curve’s successful OTC sale, netting $57.46 million, is an illustration of the robust confidence that the market holds in its future. The diversity of its investors, both institutional and individual, showcases the widespread belief in its potential. As Curve continues on its trajectory, such financial undertakings can only solidify its position in the DeFi ecosystem.
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