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Convex Finance’s CVX Token Plunges After Major Sell-Off by Fantom Whale


by CoinEdition

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Convex Finance's CVX Token Plunges After Major Sell-Off by Fantom Whale
  • SpotOnChain reports a whale linked to Fantom Foundation sold 357,000 CVX, causing a 5% price drop.
  • CVX trades at $3.15, down 9.2% from its recent high.
  • Convex Finance’s total value locked (TVL) slipped to $1.24 billion, down 1.59% from the previous day.

Convex Finance’s CVX token plunged 5% early Friday following a massive sell-off by a wallet linked to the Fantom Foundation, according to on-chain data from SpotOnChain.

The transaction, which involved over 357,000 CVX tokens worth $1.15 million, triggered a wave of selling pressure and wiped out recent gains for the cryptocurrency.

Early Friday morning, CVX experienced a price decrease and increased selling pressure following news of the whale transaction. As of press time, the token is trading at $3.15, a 9.2% decline from its recent intraday high of $3.44…

The post Convex Finance’s CVX Token Plunges After Major Sell-Off by Fantom Whale appeared first on Coin Edition.

Read the article at CoinEdition

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$ 0.0111

-1.37%

$ 0.00...361

$ 0.0504

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$ 0.99975

+0.01%

$ 0.0111

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$ 0.00...361

$ 0.0504

+1.04%

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Convex Finance’s CVX Token Plunges After Major Sell-Off by Fantom Whale


by CoinEdition

Share:

Convex Finance's CVX Token Plunges After Major Sell-Off by Fantom Whale
  • SpotOnChain reports a whale linked to Fantom Foundation sold 357,000 CVX, causing a 5% price drop.
  • CVX trades at $3.15, down 9.2% from its recent high.
  • Convex Finance’s total value locked (TVL) slipped to $1.24 billion, down 1.59% from the previous day.

Convex Finance’s CVX token plunged 5% early Friday following a massive sell-off by a wallet linked to the Fantom Foundation, according to on-chain data from SpotOnChain.

The transaction, which involved over 357,000 CVX tokens worth $1.15 million, triggered a wave of selling pressure and wiped out recent gains for the cryptocurrency.

Early Friday morning, CVX experienced a price decrease and increased selling pressure following news of the whale transaction. As of press time, the token is trading at $3.15, a 9.2% decline from its recent intraday high of $3.44…

The post Convex Finance’s CVX Token Plunges After Major Sell-Off by Fantom Whale appeared first on Coin Edition.

Read the article at CoinEdition

In This News

Coins

$ 0.99975

+0.01%

$ 0.0111

-1.37%

$ 0.00...361

$ 0.0504

+1.04%

Share:

In This News

Coins

$ 0.99975

+0.01%

$ 0.0111

-1.37%

$ 0.00...361

$ 0.0504

+1.04%

Share:

Read More

Pi Network’s PI Token Plunges Again, Bitcoin (BTC) Stable at $68K: Weekend Watch

Pi Network’s PI Token Plunges Again, Bitcoin (BTC) Stable at $68K: Weekend Watch

In contrast, PIPPIN has become the top performer once again, rocketing by 17% daily.
Why did Bitcoin sell off as the yen surged fast enough to trigger cuts across risk books?

Why did Bitcoin sell off as the yen surged fast enough to trigger cuts across risk books?

Bitcoin sometimes sells off hard on days with no crypto headlines. A recurring driver...