Institution Liquidates DeFi Investments, Faces $9.61 Million Loss
An unidentified institutional investor has liquidated its long-term investments in decentralized finance (DeFi) tokens, resulting in a substantial loss of $9.61 million. The liquidation was tracked by on-chain analyst Yu Jin, who reported the details of the transactions.
Approximately ten days prior to the latest liquidation, the institution sold 37.26 million CRV tokens, which it had held for three years, realizing a loss of $5.97 million. This significant sell-off reflects the investor's strategic decision to exit from these holdings amid market conditions.
Most recently, the institution transferred 4.01 million PENDLE tokens, held for one year, to the cryptocurrency exchange OKX. This transaction carried an unrealized loss of $3.64 million, further highlighting the challenges faced by investors in the volatile DeFi market.
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Source: KLEA News