CRV Price Drops After Large Transfer to CEX

According to BlockBeats On-chain Detection, an address transferred 4.29 million CRV tokens, valued at $2.35 million, to a centralized exchange (CEX) seven hours ago. Following this transaction, the price of CRV fell by 5%. The address incurred a loss of $747,000 on CRV. The tokens were originally withdrawn from the CEX between April and May at a price of $0.72 per CRV and were sold today at $0.54 per CRV.