NFT Market To Crash; Largest NFT Dump Ever
NFT News: The Blur marketplace will soon get a second airdrop. Andrew Thurman from Nansen speculated that this NFT dump could be a way to get additional BLUR token rewards and make some money.
Nansen data shows that Jeffrey Hwang (also known as MachiBig Brother) is a non-fungible token whale. He sold 1,010 tokens in 48 hours for 11,680 Ethereum, or $18.6 Million.
Andrew Thurman, Nansen’s Simian psychometric enhancement technician, highlighted the trading activity of the previous two days in a Twitter thread on February 25, claiming that it was “likely” the largest NFT dump. This makes it one the most important NFT News.
The main selling event featured, among other things, 90 NFTs of the Bored Ape Yacht Club, 191 NFTs of the Mutant Ape Yacht Club, and 308 NFTs From Otherdeed.
Machi sold 1,010 NFTs in 48 hours, making it the largest NFT dump of all time.
He’s not making much profit from these collections. Why? pic.twitter.com/4NyMF3gzuy
Andrew T (@Blockanalia), February 24, 2023
Thurman speculated Machi Big Brother (Machi), may have been trying book some profits while also engaging “one big wash trading to generate huge Blur Airdrop profit” when he quickly purchased back 991 NFTs following the dump.
According to reports Machi is one of the largest recipients of the BLUR token Airdrop from the burgeoning NFT Marketplace Bluer. He recently overtook OpenSea as the top trader.
Machi had received 1.8 million BLUR Tokens
On February 14, the project began to distribute its first round of airdrops. The amount of tokens distributed varied depending on user engagement and NFT trading activity.
Arkham Intel, a blockchain analytics company, claims that Machi received 1.8 Million BLUR tokens on February 17. He also cashed them all for $1.3 million.
Machi may be trying to increase his NFT trading activity. This is done to increase his NFT trading activity and gain more BLUR tokens for the next round. Other whales could be thinking the exact same thing.
BLUR Token Price
Blur’s current price is $0.8227 at the time this article was written. Blur’s market capitalization is $ 322 million, and the 24-hour trading volume has increased by 81%. It now stands at $ 412million. According to CoinMarketCap, the circulating supply of BLUR is around 391,004,422 Blur.
Also read: Blur NFT Marketplace Announces to Remove Third-Party Flags
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