Fantom Foundation, known for its altcoin Sonic, has sold a significant amount of CRV tokens. This sale has attracted the attention of cryptocurrency analysts.
CRV Token Sale
According to data provided by onchain tracker Lookonchain, the Fantom Foundation withdrew 11.07 million CRV tokens worth $7.64 million via decentralized finance organization Curve Finance and transferred them to cryptocurrency exchange Binance.
Market Reaction
The sale came after the CRV price had lost approximately 8% in 24 hours, raising questions about whether it was a panic sale. However, following the sale by the Fantom Foundation, the CRV price gained approximately 5%. Price parameters indicate that the CRV price has gained approximately 34% in the last month, while the Sonic price has lost 15% during the same period.
Current Assets of Fantom Foundation
Currently, the Fantom Foundation has assets worth $1.89 million in known cryptocurrency wallets, $637 thousand of which is in INST tokens, and $599 thousand in X33 tokens.
The sale of CRV tokens by the Fantom Foundation has created significant market fluctuations, raising questions about the dynamics of its assets and potential implications for the Sonic price.
