Today, ponzishorter.eth borrowed a large amount of $CRV from #Aave and pumped it.
Which caused the price of $CRV to drop from $0.537 to $0.407, a drop of 24%.
The sell-off continues for now.
1.🧵
A thread tells you what happened to $CRV.
2.
On November 13, ponzishorter.eth deposited about 40M $USDC into #Aave to borrow $CRV for selling.
Began to short $CRV for a week.
Which caused the price of $CRV to slowly drop from $0.625 to $0.464 over the past week, a drop of about 26%.
3.
5 hours ago, ponzishorter.eth suddenly borrowed 20M $CRV ($9.9M) from #Aave and transferred to #OKEx for selling.
3 hours ago, borrowed 10M $CRV ($9.9M) from #Aave again.
etherscan.io/address/0x57e0…
4.
ponzishorter.eth sold $CRV in large quantities, so many people who used $CRV as collateral will face liquidation.
The founder of Curve.fi borrowed $USDC with $CRV as collateral and is about to be liquidated.
So 3 hours ago, he added 20M $CRV of collateral.
5.
Now, the Health Rate of the Curve.fi founder is 1.65.
debank.com/profile/0x7a16…
6.
ponzishorter.eth added $USDC as collateral, continued to borrow $CRV from #Aave and sold.
He totally borrowed 92M $CRV($39.86M)
Now his Health Rate is 1.39.
And he also used MEV bots to dump $CRV in an attempt to drain CRV's liquidity.
7.
Now the price of $CRV started to recover, but ponzishorter.eth did not stop shorting $CRV.
8.
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