According to on-chain analyst Ember, as the market fell in the past two days, the price of CRV also fell to $0.42. Curve founder Michael Egorov's lending position has also entered the red line again.
Michael currently has 5 addresses and 6 lending platforms to pledge a total of 371 million CRV (1.56 million US dollars) to borrow $92.54 million in stablecoins. Because of the decline in CRV prices, Michael's lending positions on various platforms have now entered the dangerous range again. The lending health rate of multiple positions has dropped to around 1.1 (that is, if the CRV price continues to fall by 10% without replenishment or repayment, liquidation will begin).
In August last year, in order to avoid liquidation caused by the decline in CRV prices, Michael sold 159.4 million CRV to 33 investors/institutions in an over-the-counter (OTC) transaction in exchange for 63.76 million U stablecoins to repay the loan, with a selling price of $0.4.