- Whale sells 1,010 tokens for 11,680 Ether, or $18.6 million, over 48 hours.
- Jeffery Hwang may seek to increase his NFT trading activity to gain some blur tokens.
- He previously got 1.8 million BLUR and had exchanged them for $1.3 million.
Nansen records show that Non-Fungible Token (NFT) whale Jeffrey Hwang, also known as Machi Big Brother, sold 1,010 tokens for 11,680 Ether, or $18.6 million, in 48 hours.
Nansen’s simian psychometric enhancement technician, Andrew Thurman, noticed the trading activity over the previous two days in a thread on Twitter on February 25 and said it was likely the largest NFT dump ever.
The main sale event featured, among others, 90 NFTs from the Bored Ape Yacht Club (BAYC), 191 NFTs from the Mutant Ape Yacht Club (MAYC), and 308 NFTs from Otherdeed.
Thurman speculated that Machi Big Brother’s quick purchase of 991 NFTs could have been an attempt to record some profits while engaging in “one big wash transaction to produce huge Blur airdrop profits” or a “pretty naked market manipulation.”
According to reports, Machi is one of the biggest recipients of the Blur token airdrop from burgeoning NFT marketplace Blur which recently ousted OpenSea from the position of leading NFT platform in terms of trading activity.
Notably, the project began dispersing its first round of airdrops to the community on February 14. The quantity of airdropped tokens varied depending on the user’s level of platform involvement and NFT trading activity on Ethereum.
Furthermore, the blockchain analytics company Arkham Intel reported on February 17 that Machi had gotten 1.8 million BLUR and had exchanged them for $1.3 million. In light of this, Machi may seek to increase his NFT trading activity to gain additional BLUR tokens in the upcoming round.
According to data from NFT Price Floor, the starting rates for Machi’s best collections initially dumped have decreased by 7.77%, 9.2%, and 8.16% over the past 24 hours for BAYC, MAYC, and Other Deed NFTs, respectively. According to CoinGecko, the price of BLUR is currently $0.79 and has decreased 17.7% over the last week.
