2 years ago
With the Blur marketplace acceptable for a 2nd airdrop soon, Nansen’s Andrew Thurman theorized that this large NFT dump could beryllium a play to reap other BLUR token rewards portion besides booking immoderate profits.
47 Total views
2 Total shares
Own this portion of past
Collect this nonfiction arsenic an NFT
According to information from Nansen, nonfungible token (NFT) whale Jeffrey Hwang — known colloquially arsenic Machi Big Brother — dumped 1,010 tokens for a full of 11,680 Ether (ETH) oregon $18.6 cardinal successful the abstraction of 48 hours.
In a Feb. 25 Twitter thread, Nansen’s Simian Psychometric Enhancement Technician Andrew Thurman highlighted the trading enactment implicit the erstwhile 2 days, and noted that it's “likely the largest NFT dump ever.”
The large selling lawsuit included 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs and 308 Otherdeed NFTs to sanction a few.
In what's apt the largest NFT dump ever, successful the past 48 hours Machi has sold 1,010 NFTs, including:
- 90 BAYC for 5707 ETH
- 191 MAYC for 3091 ETH
- 112 Azuki for 1644 ETH
- 308 Otherdeed for 582 ETH
But he's not registering overmuch nett for these collections. Why? pic.twitter.com/4NyMF3gzuy
Notably, however, Machi Big Brother (Machi) promptly bought backmost 991 NFTs pursuing the dump, with Thurman theorizing that could beryllium a play to either publication immoderate profits portion besides conducting “one large lavation commercialized to make immense Blur airdrop profits,” oregon a “pretty bare marketplace manipulation. ”
Machi is reportedly 1 of the biggest receivers of the BLUR token airdrop from upstart NFT marketplace Blur, which precocious ousted OpenSea from being the top-ranked NFT level successful presumption of trading volume.
On Feb. 14, the task started dishing retired its archetypal circular of airdrops to the community, with the magnitude of airdropped tokens depending connected the user’s level of level engagement and Ethereum-based NFT trading activity.
On Feb. 17, blockchain analytics level Arkham Intel indicated that Machi had received 1.8 cardinal BLUR tokens, and cashed it each retired for $1.3 million.
Machi is presently not holding immoderate $BLUR - similar others, helium sold it all.
In total, helium received $1.3M for his 1.8M Blur tokens, selling astatine an mean terms of $0.707.
It took 38 abstracted transactions for him to wholly merchantability his $BLUR! pic.twitter.com/nhJpGK1uFf
As such, Machi could beryllium looking to people immoderate caller BLUR tokens successful the adjacent circular by ramping up NFT trading activity, portion different whales whitethorn beryllium looking to bash the aforesaid also.
Related: Blur laminitis Pacman puts the NFT marketplace warfare into perspective
Looking astatine the level prices of apical collections that Machi initially dumped, BAYC, MAYC and Otherdeed NFTs person seen their prices driblet 7.77%, 9.2% and 8.16% successful the past 24 hours, according to data from NFT Price Floor.
“One man's quest for an airdrop is wrecking immoderate markets,” Thurman noted successful a consequent post.
FWIW my "partial cashout" mentation doesn't look to beryllium panning retired -- helium hasn't sent thing to Binance successful a portion pic.twitter.com/FbqBsRzjHd
— Andrew T (@Blockanalia) February 25, 2023At the clip of writing, BLUR sits astatine $0.79 with the terms declining by 17.7% implicit the past 7 days, according to CoinGecko.
On Feb. 22, the Blur squad tweeted that the task volition soon airdrop $300 cardinal worthy of tokens successful its 2nd round, oregon “season two.”
English (US) 