tl;dr
DWF Labs, a Web3 investor and market maker, deposited 2 million CRV tokens worth $683,000 onto Binance on August 22. The firm purchased 12.5 million CRV from Curve DAO founder Michael Egorov during a liquidity crisis last year, incurring a total estimated loss of $824,000 (-16.5%) based on the curre...
DWF Labs, a Web3 investor and market maker, recently deposited 2 million CRV tokens worth $683,000 onto Binance on August 22. This move sparked speculation of a sell-off in the digital asset sector. The firm had previously purchased 12.5 million CRV from Curve DAO founder Michael Egorov during a liquidity crisis last year, incurring a total estimated loss of $824,000 (-16.5%) based on the current price of the altcoin.
As a result of this transfer, CRV's trading volume surged by 11.04% to $171,000 million. Despite hitting a high of $0.86 in March, the token is currently trading at $0.3286, down from its peak. The Relative Strength Index (RSI) reading suggests a potential price drop in the near future. However, if CRV holds above $0.3, investors may anticipate higher prices in the longer term.
DWF Labs' CRV holdings rank third in their portfolio, with the Web3 firm facing considerable bearish pressure amid the altcoin's downward trend. Nevertheless, investors are closely monitoring CRV's performance, particularly in anticipation of a bullish confirmation to further buy the token.
More about Rush Street Interactive Inc
Rush Street Interactive Inc
Rush Street Interactive, Inc. is an online casino and sports betting company in the United States and Latin America. The company is headquartered in Chicago, Illinois.
Sector: TRADE & SERVICES
Industry: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION
Market Cap: 2131088000
Dividend Yield: None
Beta (5Y Monthly): None
PE Ratio (TTM): -0.09
EPS (TTM): 10.78
Earnings Date: -0.0084
Forward Dividend & Yield: 801545000, 13.03, 0, 0.888