CRV Liquidations Cause Market Turmoil, Bad Debt in Protocols as Price Falls Below $0.25

The cryptocurrency Curve DAO Token (CRV) is experiencing significant liquidations, causing widespread concern in the market. Many of Mich's positions are actively liquidating, leading to bad debt in various protocols. A whale with the address 0xF078...0f19E was liquidated for 29.6 million CRV after the token's price fell below $0.25. This situation is dragging down the rest of the crypto market, and experts advise exiting smaller protocols with unsiloed liquidity utilizing CRV as collateral. There wasn't much OTC demand for CRV left after Mich sold the rest of it at a discount to Iggy.