A UK-based Investment Company is Thought to Have Secretly Purchased This Altcoin – And Lost Money

According to information obtained from cryptocurrency onchain data, quantitative investment firm Manifold is thought to have purchased the Curve Finance ($CRV) token.

According to the data, a crypto wallet address believed to be affiliated with Manifold used the $USDC stablecoin $CRV worth $2 million. The address transferred $2 million $USDC to cryptocurrency exchange Binance and then immediately withdrew 3.14 million $CRV tokens.

The average cost of this purchase was measured at $0.63 per $CRV.

At the time of writing, $CRV is trading at $0.58. Its market value is $795 million. The token reached an all-time high of $2.39 billion on January 15, 2022. At that time, it peaked at $5.34. Due to token inflation, the current price $CRV needs to reach to break a new record in terms of total market value is $1.79.

*This is not investment advice.