- 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.
Read Also :
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.