NEW: FREE Web3 Resume Cheat Sheet DOWNLOAD NOW

Blur recovers 9.8% after Machi Big Brother sold all his 18M $BLUR coins

554824
BLUR

In this post:

  • $BLUR is up 9.8% after dropping 7% when Machi Big Brother sold all his tokens on Binance.
  • Machi Big Brother made his worries about Blur’s underperformance known on Discord last week.
  • Blur is down from its $5.02 ATH on February 14, 2023, which raises questions about its NFT marketplace.

Machi Big Brother, a renowned crypto influencer, recently made headlines for a $BLUR offload. Arkham Intelligence’s on-chain data shows that Machi Big Brother sold all his BLUR assets. After this sale, $BLUR tanked by 8%, which brought about market criticism.

Also Read: Why is Ripple’s XRP up today? XRP surges 10% in 24 hours

Today, Blur shows signs of recovery, with $BLUR trading at $0.1651, a 3.7% spike in the last 24 hours, and a 9.8% spike in the last seven days.

Machi Big Brother ditches Blur

According to on-chain data, Jeffrey “Machi Big Brother” Huang’s wallet moved all of its BLUR, or around $3.1 million, to the centralized crypto exchange Binance. Lookonchain adds, “Machi Big Brother has deposited all 18M $BLUR ($3.1M) at $0.17 to Binance at a loss in the past two days.”

According to reports, Machi Big Brother bought 12.44 million $BLUR at an average price of $0.51 between Nov 23, 2023 and Jun 18, 2024.

Also Read: Why is Bitcoin up in the weekend? BTC stabilizes above $58K

$BLUR is the native token for the Blur NFT trading and lending platform, which will launch in 2022. DappRadar reports that Blur once accounted for at least 62% of all NFT trading volume.

See also  Mike Novogratz calls XRP Army proof that community drives investment value

Machi Big Brother has had a significant impact on Blur. Jeffrey Huang, often known online as Machi Big Brother, is a Taiwanese-American singer and tech entrepreneur. Huang is not a Blur founder or executive but has been one of the platform’s largest lenders.

Just last week, Huang discussed rising dissatisfaction with the token’s decreasing price on the Blur DAO Discord server as users questioned its worth. According to CoinGecko data, $BLUR has dropped 52% last month from $0.34.

Source: CoinGecko

In one message, Huang appeared to ask for an explanation of how the BLUR airdrop was distributed among farmers and holders and how much was kept for governance. In addition to Machi Big Brother’s $BLUR holdings, his other prominent investments are also showing signs of underperformance. 

According to SpotOnChain, he currently holds 275M $BLAST tokens valued at around $4.45 million. This indicates a significant loss of nearly $1.5 million.

Based on data from CoinGecko, the token reached its highest point at $5.02 on February 14, 2023, over a year ago. Also, the lowest recorded price for Blur was $0.1413, which happened just eight days ago, on July 5, 2024. In addition, Blur currently has a market cap of $287,527,314 and holds the 190th position on CoinGecko’s ranking.

Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet

See also  ENRON meme token finally launches, snipers crash price on Solana DEX

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...
Subscribe to CryptoPolitan