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NFT News: Considering that the Blur market will quickly obtain a second airdrop. Andrew Thurman of Nansen hypothesized that this vital NFT dump might be an try to get hold of extra BLUR token rewards whereas additionally making some cash.

Nansen knowledge present that Jeffrey Hwang, also referred to as Machi Big Brother, is a non-fungible token (NFT) whale. In simply 48 hours, he offered 1,010 tokens for 11,680 ETH, or $18.6 million.

The largest NFT dump ever

In a Feb. 25 Twitter thread, Nansen’s Simian Psychometric Enhancement Technician Andrew Thurman emphasised the earlier two days’ buying and selling exercise, claiming it was “likely the largest NFT dump ever.” Making it one of many greatest NFT News.

The foremost promoting occasion featured, amongst others, 90 NFTs from the Bored Ape Yacht Club (BAYC), 191 NFTs from the Mutant Ape Yacht Club (MAYC), and 308 NFTs from Otherdeed.

In what’s doubtless the biggest NFT dump ever, previously 48 hours Machi has offered 1,010 NFTs, together with:
– 90 BAYC for 5707 ETH
– 191 MAYC for 3091 ETH
– 112 Azuki for 1644 ETH
– 308 Otherdeed for 582 ETH

But he is not registering a lot revenue for these collections. Why? pic.twitter.com/4NyMF3gzuy

— Andrew T (@Blockanalia) February 24, 2023

Thurman speculated that Machi Big Brother (Machi) might have been attempting to e-book some earnings whereas additionally participating in “one big wash trade to generate huge Blur Airdrop profits” when he swiftly bought again 991 NFTs after the dump.

According to experiences, Machi is among the many greatest recipients of the BLUR token airdrop from burgeoning NFT Marketplace Blur. However, he just lately ousted OpenSea from the highest spot when it comes to the buying and selling quantity.

Machi had obtained 1.8 million BLUR Tokens

The undertaking started dispersing its first spherical of airdrops to the group on February 14. The amount of airdropped tokens diversified relying on the person’s degree of platform engagement and NFT buying and selling exercise on Ethereum.

According to blockchain analytics firm Arkham Intel, Machi obtained 1.8 million BLUR tokens on February 17. Also, he cashed all of them out for $1.3 million.

Machi could be trying to enhance his NFT buying and selling exercise. It is completed with the intention to achieve some extra BLUR tokens within the upcoming spherical. Also, different whales could be pondering the identical factor.

BLUR Token Price

Blur’s value on the time of writing is $0.8227. However, with a market capitalization of $ 322 million and a 24-hour buying and selling quantity up by 81%. Now it stands at $ 412 million. At the identical time, the circulating provide is roughly 391,004,422 BLUR as per the crypto market tracker CoinMarketCap.

Also Read: Blur NFT Marketplace Announces To Remove Third-Party Flags

Sachin is a author and journalist with over three years of working expertise with completely different main media homes. He is a fintech fanatic who primarily experiences on Web 3, NFT, and Metaverse. When he isn’t working, you could find him studying thrillers and watching world cinema. Contact him at [email protected]

The offered content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.