The Fantom Foundation sold 357,000 CVX from its related addresses, after previously purchasing 436,000 CVX for a total loss of $10.7 million USD

According to Spot On Chain monitoring, a wallet associated with the Fantom Foundation sold 357,108 CVX at a price of $1.15 million USDT in the past hour, causing the price to drop by about 5%. This wallet spent $12 million in March 2022 to purchase 436,000 CVX at approximately $28 each and then sold these tokens over the past two years for only about $3.38 each. This resulted in a loss of $10.7 million (-87.8%).