Curve DAO token plunges 14% under heavy short-selling pressure
The trader sold nearly all of the borrowed CRV tokens on centralized and decentralized spot exchanges, on-chain data shows. Typically short sellers will use a centralized perpetual trading platform, making this trader's short play unique.
The selling pressure triggered a sharp fall in price. The token crashed over 14% at one point, going from $0.52 to $0.43, according to CoinGecko. CRV was trading at $0.47 at 7:00 a.m. ET. Short sellers bet the token price will fall to make a profit. Borrowing on lending platforms and selling tokens is a manual way to take a short position on a particular asset.
Source
https://t.me/CryptoMarketUpdates
