NFT whales went “Biggest NFT Dump Ever” within 48 hours Blur air drop. At least that’s the speculation of some NFT market data analysts. The whale, known as Jeffrey Hwang, or informally as Machi Big Brother, dumped 1,010 NFTs for 11,680 ETH or $18.6 million in less than two days.
The work came to public attention thanks to Nansen’s NFT psychometric enhancement engineer Andrew Thurman. In a Twitter thread created Feb. 25, he highlights his own terms “Probably the biggest NFT dump ever.”
Possibly the largest NFT dump to date, in the last 48 hours Machi has sold 1,010 NFTs such as:
– 90 BAYC of 5707 ETH
– 191 MAYC of 3091 ETH
– 112 adzuki beans for 1644 ETH
– 308 Otherdeeds of 582 ETH
But he hasn’t made much profit from these collections. why? pic.twitter.com/4NyMF3gzuy
— Andrew T (@Blockanalia) February 24, 2023
The dumping scandal included the sale of 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs, 308 Otherdeed NFTs and 112 Azukis. But the seller wasn’t making much profit on the collection, and Thurman wondered why.
According to analysts, Big Brother Machi immediately bought back 991 NFTs. As a result, Thurman, while posting a profit, “One big wash trade can generate huge profits with Blur airdrops” or ‘Quite bare market manipulation’
Whales were one of them, after all. biggest beneficiary of the recent Blur token airdrop. Machi received his 1.8 million BLUR, which he cashed out for $1.3 million, according to analytics platform Arkham Intel.
Blur will soon host the next Airdrop
Blur is set to move on to its next phase. airdrop, Machi looks poised to score big again as it inflates trading activity. But he is not alone. Because other whales know the tricks he needs to operate the system.
As a result, Thurman says whale activity may have impacted the overall market. “One man’s airdrop quest is destroying several markets.” All collections discarded by Machi have been heavily impacted by sales in the last 24 hours. Low NFT price data shows BAYC, MAYC and Otherdeed NFTs fell 7.77%. 9.2% and 8.16% respectively in the period.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Basil is an avid fan of blockchain technology and all its innovations, and is passionate about sharing this story with his audience. He has spent over five years in the crypto space, specializing in research and creating his Web3 content for various media outlets around the world.