Justin Sun, the founder of Tron, one of the leading blockchain networks, bought the tokens of the struggling altcoin project. Sun has added a large amount of Curve Finance (CRV) coins to his personal wallet. This move by the Tron founder became the lifeline of the credit problem facing CRV founder Michael Egorov.
Cryptocurrency tracker Lookonchain shared that the Tron founder received $5 million worth of CRV hours ago.
The founder of #Curvefi sold 5M $CRV to Justin Sun at an average price of $0.4 via OTC.https://t.co/WM1nW8JKwU pic.twitter.com/2smWxRbqHp
— Lookonchain (@lookonchain) August 1, 2023
By buying altcoins via OTC (over-the-counter market), Sun has achieved huge discounts per token. Tron founder Justin Sun paid $0.40 for each token.
Curve Finance (CRV) chart.CRV is currently trading at $0.60. The crypto phenomenon has already made 50% profit thanks to the purchase of discounted altcoins.
Tron and Curve Finance Partnered!
Leading cryptocurrency phenomenon Justin Sun has announced a new collaboration between his project and Curve. Emphasizing that he is pleased with his support for the project, Sun announced that they will work together for a common stUSDT pool.
Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an @stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentralized finance!
— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 1, 2023
The Tron founder underlined that their first goal was to create a real DeFi ecosystem.
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