DWF Labs has once again demonstrated their confidence in Curve's DeFi ecosystem by swiftly converting a substantial amount of USDT to CRV tokens. The recent transaction, analyzed by Spot On Chain, involved transferring 500,000 USDT to Michael Egorov, the founder of Curve. Egorov efficiently converted the entire sum to 826,764 CRV tokens at a rate of $0.605 per token.

This is not the first time DWF Labs has shown interest in CRV. In a previous significant investment on August 1, 2023, the company invested 5 million USDT to acquire 12.5 million CRV tokens from Egorov at an over-the-counter (OTC) price of $0.4 per token. Currently, DWF Labs holds these tokens, valued at $7.6 million, positioning them as the second-largest holder of CRV tokens in their portfolio.