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NFT Whale Machi Liquidates 1010 NFTs Worth $17 Million By CoinEdition

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NFT Whale Machi Liquidates 1010 NFTs Worth $17 Million
  • NFT whale Machi Big Brother has sold more than a thousand NFTs for 11,024 ETH.
  • Following the massive sale, Machi repurchased the majority of the NFTs that he sold.
  • Users on Twitter have speculated that the mass sale was to farm the upcoming airdrop on Blur.

Popular NFT whale Machi Big Brother has reportedly liquidated more than a thousand NFTs from his massive collection of digital artworks over the past 48 hours. A massive sale was made on Blur, the NFT marketplace for pro-traders.

Data from on-chain analytics firm Nansen revealed the details of Machi’s recent NFT sale. According to Nansen technician Andrew T on Twitter, the NFT whale sold 90 NFTs from his Bored Ape Yacht Club (BAYC) collection for 5707 ETH ($9.1 million), 191 Mutant Ape Yacht Club (MAYC) NFTs for 3091 ETH ($4.9 million), 112 NFTs from his Azuki collection for 1644 ETH and 308 Otherdeed for 582 ETH.

According to Andrew T, Machi sold the NFTs for 11,024 ETH, netting a whopping $17.5 million. Despite the huge sale of blue-chip NFTs, the whale wasn’t able to make a lot of profit, because it was followed by the purchase of over 900 NFTs for which he paid 8479 ETH. Machi bought back 57 BAYC, 190 MAYC, 119 Azuki, and 285 Otherdeed NFTs.

Andrew T described it as likely “the largest NFT dump ever.” Data from Nansen shows that the whale still has 7000 ETH in his Blur deposit pool, along with 11,000 ETH worth of NFTs that he may decide to sell. “No matter what, it’s one of the purest expressions of degeneracy and mental illness I have ever seen on-chain,” the Nansen technician tweeted.

Users on Twitter have speculated that Machi’s recent transactions may be a big wash trade to attract Blur airdrop profits. The NFT marketplace published the requirements for its second airdrop earlier this week. The requirements incentivize trading activity on the platform by rewarding loyal investors who list their NFTs on Blur. The reward is 300 million plus BLUR tokens, which will be distributed to the community based on their trading activity.

The post NFT Whale Machi Liquidates 1010 NFTs Worth $17 Million appeared first on Coin Edition.

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Photo of Jake Jake Send an email February 25, 2023
0 68 2 minutes read
Photo of Jake

Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

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