In what might be a record-breaking sale in the NFT sector, an NFT whale has dumped more than 1,000 unique tokens on the market in the shortest time possible. According to the report’s details, the whale sold a total of $18 million worth of tokens over two days. In a thread made by an NFT analyst, he branded the sale the biggest dump he has witnessed since the sale of NFT tokens became mainstream.
The NFT whale dumped $18 million worth of NFTs
According to the detailed report, the NFT whale parted with some high-flying digital arts, including BAYC, Otherdeed, and MAYC NFTs. In addition, the list consists of other NFTs that have yet to grow in popularity compared to those previously mentioned. However, the report clarified that the NFT whale bought about 900 NFTs immediately after the sales.
The analyst noted that the individual might be looking to cash in on his profits while buying a huge NFT to be eligible for airdrops in the coming days. He added that the whole process might be a perfect way for the NFT whale to manipulate the market. The individual was awarded many airdropped tokens from the high-flying platform Upstart. The platform is presently making a case for holding on to the top spot after displacing Opensea.
Upstart to airdrop more BLUR tokens
Upstart announced that it started sending users airdrop tokens on its platform on February 14. According to the firm, the number of tokens users get will depend on their participation and engagement with the website. According to an on-chain analysis website, the NFT whale was gifted 1.8 million units of the airdropped BLUR token, which he sold for over $1 million. With this move, the next round could see the whale awarded more BLUR tokens due to this activity.
In addition, the analysis website mentioned that other whales might be looking to toll his path as they would also be in line to receive a major reward. Most of the top NFTs the whale dropped have not performed well in the market. MAYC has dropped the highest, recording a 9.2% drop, with BAYC dropping 7.7% to place third on the list. The BLUR token has also been hit by some bearish waves, seeing a decline of 17.7% in the last seven days. BLUR is set to airdrop more than $300 million worth of tokens in a new airdrop that will take place soon.