NFT Space in Hot Waters-One of the Highest NFT Dump by a Whale Recorded

On Feb 25, 2023

Blur token has created a huge buzz within the markets in recent times as it remained one of the most popular tokens throughout the week. Now that the token is set for the second airdrop, a fascinating whale transfer has been recorded. Interestingly, the whale was just not transferred but dumped off booking some profits.

According to the data from Nansen, a popular on-chain analytical platform, Jeffery Hwang, also called Machi Big Brother, is an NFT whale. The data shows the whale has sold more than 1010 tokens for 11,680 ETH, or $18.6 million, which is considered the largest dump ever.

In what’s likely the largest NFT dump ever, in 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 much profit for these collections. Why? pic.twitter.com/4NyMF3gzuy
— Andrew T (@Blockanalia) February 24, 2023

In a series of tweets, Andrew T., Nansen’s simian psychometric enhancement technician, highlighted the trading activity of the past two days. He speculated that Machi may have tried to extract some profits when he bought back 991 NFTs after the dump. He is considered to be the largest whale and hence among the biggest recipients of the BLUR token airdrop.

Overall, the whale may be trying to accumulate huge amounts of tokens ahead of the most anticipated BLUR token airdrop. With the airdrop, the NFT space is believed to get a wider boost that may even uplift the Blur price beyond a dollar too. Presently, the BLUR crypto price is around $0.8457, with a market capitalization of $333.16 million and a circulating supply of 392.19 million.