In light of the upcoming second airdrop for the Blur marketplace, Andrew Thurman of Nansen speculated that this huge NFTs dump may be an effort to get further BLUR token rewards while also recording some gains. According to Nansen data, NFT whale Jeffrey Hwang, better known as Machi Big Brother, sold 1010 tokens for 11680 Ether, or $18.6 million, over the period of 48 hours.
In a debate on Twitter on February 25, Andrew Thurman, a Nansen simian psychometric enhancement technician, saw the trading activity over the previous two days and declared it to be “perhaps the largest NFT dump ever.” 308 Otherdeed NFTs, 191 Mutant Ape Yacht Club (MAYC), and 90 Bored Ape Yacht Club (BAYC) NFTs were among the items sold during the main event.
Is this NFTs Fury a Market Manipulation?
Thurman hypothesized that Machi Big Brother‘s sudden acquisition of 991 NFTs may have been an effort to lock in profits while also participating in “one gigantic wash sale to yield large Parabolic airdrop profits” or a “very blatant market manipulation.”
According to sources, Machi is one of the primary beneficiaries of the airdrop of Blur (BLUR) tokens from the expanding NFT marketplace Blur, which just ousted OpenSea from the top spot in terms of transaction volume.
On February 14, the operation started distributing its initial batch of airdrops to the neighborhood. Depending on the user’s level of platform involvement and NFT trading activity on Ethereum, different amounts of airdropped tokens were distributed.
The Exchanges on Blur might Affect other Markets Also
On February 17, Arkham Intel, a provider of blockchain analytics, said that Machi had received 1.8 million BLUR and had swapped them for $1.3 million. Because Maybe through this, Machi could be attempting to enhance his NFT trading activity in order to acquire more BLUR tokens during the subsequent round.
The top collections that Machi first dumped have had floor prices fall by 7.77%, 9.2%, and 8.16% for BAYC, MAYC, and Otherdeed NFTs, respectively, during the preceding 24 hours, according to data from NFT Price Floor. According to Thurman, “one man’s pursuit of an airdrop is wrecking some markets,” in a recent article.
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