Blur Dips 8% Post Machi Big Brother $3.1M Binance Transfer

Machi Big Brother, a popular crypto influencer, recently made headlines due to a rather significant transfer. According to on-chain data from Arkham Intelligence, Machi Big Brother has sold all of his BLUR holdings.  Lookonchain reports, “Machi Big Brother has deposited all 18M $BLUR($3.1M) at $0.17 to Binance at a loss in the past 2 days.” 

BLUR is the native token for the Blur NFT trading and lending marketplace, which launched in 2022. Machi Big Brother has had quite an influence on Blur.  

Machi Big Brother moves all his coins to Binance

 Jeffrey Huang, known online as Machi Big Brother, is a Taiwanese-American musician and tech entrepreneur. Huang isn’t one of Blur’s founders or executives, but he has been one of the largest lenders on the platform. 

In the last 24 hours, Huang deposited 18.4 million BLUR, worth $3.31M, into Binance, which has caused the price to drop. 

Machi Big Brother has deposited all 18M $BLUR($3.1M) at $0.17 to #Binance at a loss in the past 2 days.

He bought 12.44M $BLUR at an average price of $0.51 between Nov 23, 2023 and Jun 18, 2024.https://t.co/n1YscD1es6 pic.twitter.com/e8jSS3AZHN

— Lookonchain (@lookonchain) July 12, 2024

At the time of this writing, Blur (BLUR) is worth $0.1655, a 3.5% decline in the last 24 hours. At one point, Blur tanked more than 8% of its market value.

According to Arkham Intelligence, Machi Big Brother has other crypto holdings that are not doing well. His notable holdings include BLAST, $FRIEND, USDC, and HXA.

According to CoinGecko, the highest price paid for Blur (BLUR) is $5.02, which was recorded on February 14, 2023 (more than a year ago), and the lowest price paid for Blur is $0.1413, which was recorded on July 5, 2024 (7 days ago). Additionally, Blur has a market cap of $287,527,314 and is currently ranked #190 on CoinGecko.

Blur replaced OpenSea as the leading NFT marketplace in the crypto ecosystem. However, Blur has faced criticism, which has caused unrest among users. The current market selloffs have created market volatility, and it could worsen as traders get into the weekend.

Also Read: Crypto Tycoon Justin Sun Debunks $69K Bitcoin Long Buy Myth