Whale Sells $5.2M in Curve DAO Tokens, Realizing Only $400K Profit

A recent on-chain analysis reveals a Curve DAO (CRV) whale, who had amassed 5 million tokens at a price of $0.26 last year—bringing their total investment to approximately $1.3 million—has finally sold off their holdings.

Key Takeaways

A Curve DAO whale with significant unrealized profits has sold off a substantial portion of tokens, realizing a much lower profit.
The whale’s sale occurred during a period of market weakness rather than bullish momentum.
Technical analysis of CRV shows a persistent downward trend, reinforcing bearish signals.
Future price movements for CRV depend on increases in buy-side volume; otherwise, further declines may be expected.

Curve DAO whale sits on $5.2M unrealized profit — then capitulates to $400K

Despite witnessing the value of CRV surge to $1.30, which represented an unrealized profit peak of about $5.2 million, the investor refrained from selling any tokens during the price rise. This week, the whale transferred over 4 million CRV to Binance for roughly $0.34 a token, cashing in only around $400,000 in profit, a marked decline from their previous multi-million dollar gain.

Curve DAO whale transfer
Source: X

This action indicates not only the individual's capitulation but also hints at underlying weaknesses within the CRV market.

Whale Sold During Market Weakness

Analytics from Arkham show that the whale's transfer history reveals a pattern: rather than selling during the October price surge, the whale opted to liquidate into a market characterized by low liquidity and declining momentum. This behavior reflects a distressed exit rather than a planned strategy.

Current Market Trends for Curve DAO

The 12-hour chart of CRV indicates a consistent downward trend since early November, with each brief rally forming lower highs, reinforcing a bearish market outlook.

Curve DAO 12-hour price trend
Source: TradingView

Two indicators further underline this weakness:
The price currently sitting at around $0.34–$0.35 saw the whale selling directly into the lower end of this declining price range.

Implications of Whale Capitulation on Market Cycle

Capitulations by whales during market lows often suggest a bearish outlook. For CRV, the data implies broader macro weakness instead of an impending price reversal, as evidenced by negative inflows, downward price trends, and low liquidity.

Looking Ahead for Curve DAO

As CRV moves forward, three critical price levels will be key: Until there is a significant increase in buy-side volume, CRV is likely to face additional downward pressure.

Conclusion

The action of a whale relinquishing millions in unrealized profits is a concerning indicator of CRV's overall market sentiment. Current price indicators support a narrative of ongoing weakness, with liquidity flows and trend structures continuing to point downward.