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Tron founder Justin Sun moved a sizeable $35 million in cryptocurrency, split among 12 distinct tokens, to Binance over the course of last week. The fact that most of these tokens were DeFi assets suggests Sun intended to give the Curve Finance liquidity.

According to blockchain data, Sun deposited $3.45 million of ETHFI ($12.05 million) to Binance, purportedly in an airdrop. Furthermore, a $6.22 million CRV transfer occurred ($1.96 million left). Five million of them originated via an Over-The-Counter (OTC) transaction that took place in August of last year. They were bought straight from a wallet connected to Curv Finance's founder, Egorov, for a reduced price of $0.4 per token.

Sun's transfer of CRV comes as the token has just started stabilizing its trading after multiple sessions in the red. Though the token is still trading in negative territory, at $0.2986, down 7.3% at press time, the losses have recovered slightly.

CRV's founder, Michael Egorov, progressively liquidated debt positions last week. Based on data from Arkham, all of Michael's loan holdings in five agreements totaling $140 million were liquidated in less than 30 minutes. The news landed as a potential blow to the token, which made it the leading loser last Thursday.

As of July 18, 2024, the price of Curve DAO Token is expected to increase by 225.73% to reach $0.98255, based on the current price estimate. Most technical indicators indicate that the current mood is bearish, and the Fear & Greed Index is 74 (Greed). Over the previous 30 days, Curve DAO Token has 13/30 (43%) green days and 15.34% price volatility.

Data from June 18 indicates an overall bearish feeling about the Curve DAO Token price prediction, with seven technical analysis indicators indicating bullish signs and 21 indicating bearish signals.

Additionally, many analysts have predicted that the 200-day SMA of Curve DAO Token will decline over the next month, reaching $0.544758 by July 18, 2024. Simultaneously, the token's short-term 50-day SMA is predicted to reach $0.518041. The momentum oscillator, known as the Relative Strength Index (RSI), is a widely used indicator that indicates when a cryptocurrency is overbought (above 70) or oversold (below 30).

Currently, The RSI reading is 34.89 for CRV, indicating a neutral posture for the CRV market.

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Justin Sun Deposits Discounted CRV on Binance After Almost a Year - Bankless Times