In a move that surprised the cryptocurrency community, the Fantom Foundation, responsible for the altcoin formerly known as Fantom (FTM) now Sonic (S), recently sold a substantial amount of their CRV tokens on decentralized finance platform Curve Finance. Data from onchain tracker Lookonchain indicates the sale, which saw the Foundation withdraw 11.07 million CRV tokens worth $7.64 million via Curve Finance and transfer them to Binance. This action coincided with a notable drop in CRV prices of roughly 8% over the past 24 hours. This has raised questions about whether this sale was motivated by panic selling or market manipulation, however, after the Fantom Foundation’s sale, CRV prices saw a significant surge of approximately 5%. While CRV has gained around 34% in the past month, Sonic’s price has fallen by 15%, and since transitioning from Fantom to Sonic, it has seen a dramatic drop of 37%. The Fantom Foundation currently holds assets worth $1.89 million across various known crypto wallets, with INST holdings valued at $637 thousand and X33 tokens worth $599 thousand. This article is for informational purposes only and does not constitute investment advice. Continue reading for more.