The truth behind CVX's 40% surge: bot manipulation and whale exit

【Blockchain Rhythm】 Recently, CVX (Convex Finance) has experienced a significant surge in the market, with a single-day increase of over 40%. However, the true situation behind this rally may be much more complex than the surface hype.

According to on-chain data, this price surge was almost entirely driven by two specific bot wallets that continuously bought at high levels to push up the market price. Meanwhile, two addresses among the Top 100 holders sensed this trend and seized the opportunity to “escape”—one emptied 25% of its holdings, and the other sold off 34% more aggressively. The bot wallets that ignited this rally have now disappeared—either clearing their positions or transferring to other addresses.

This case is worth deep reflection. For the Curve Finance and Convex Finance ecosystems, the fundamentals are indeed promising, but investors need to recognize the “game nature” of the market. Don’t blindly become the “liquidity exit” bag-holder. The only real advice is two words: be cautious. Always verify on-chain data yourself and don’t be blinded by superficial hype.