- Machi Big Brother’s massive BLUR transfer to Binance caused a sharp 7% price decline
Blur’s active addresses surged and peaked at over 16,000 in late June, before dropping
As an experienced analyst, I find the recent events surrounding the BLUR token intriguing. Machi Big Brother’s massive transfer of tokens to Binance for sale triggered a sharp 7% price decline, causing worry among investors and highlighting the influence that significant traders can have on token markets.
A 7% decrease occurred in the value of BLUR tokens after the notable trader, Machi Big Brother, moved all his holdings to Binance, sparking apprehension among investors regarding a possible massive sell-off.
Major sell-off by Machi Big Brother
Machi Big Brother transferred 18.4 million tokens, valued around $3.13 million, into Binance’s holdings according to Spot On Chain. This action fueled speculation among investors about possible upcoming sales, causing the crypto’s price to decrease by 7% within the past day. The average selling price for these tokens was set at $0.170 each.
Machi Big Brother (@machibigbrother) has allegedly dumped all $BLUR at a $3.16M loss!
Over the last day, he transferred a total of $18.4 million in $BLUR (equivalent to approximately $3.13 million) into Binance. Each deposit made by him led to a subsequent price decrease for $BLUR.
Note that his other notable holdings are not doing well either!…
— Spot On Chain (@spotonchain) July 12, 2024
Machi Big Brother’s substantial trade has sparked apprehension among investors regarding the impact of major players on cryptocurrency markets. Caution prevails in the investing community as there are fears of potential market downturns.
The deal provided insight into Machi Big Brother’s additional assets, which are likewise incurring losses. He owns approximately 275 million Blast tokens, amounting to a projected loss of around $1.5 million, and roughly 8.8 million Friend tokens, representing a potential loss of about $13.8 million.
Currently, BLUR is priced at $0.162 during my writing, with a trading volume of approximately $48.7 million in the last 24 hours. Although it has experienced a decrease, BLUR has managed to increase by 9.38% over the past week. The market remains unpredictable, shaped by significant trader actions and overall investor sentiment.
Active addresses and whale transactions
Starting late June, there was a significant increase in the number of active BLUR addresses, reaching over 16,000 at its peak. Yet, this number drastically decreased to approximately 2,445 by mid-July.
Occasional surge in whale transactions occurred, most notably around mid-March and late May. Such fluctuations typically indicate brief market engagement or the occurrence of significant events prompting increased activity.
The total number of BLUR holders has steadily increased too, reaching 56,800 by mid-July.
In the end, the unwavering 3 billion token supply of BLUR, which has persisted since mid-March, defies the volatile pricing trends. This consistency underscores burgeoning user interest and adoption, sans inflating token quantities.
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2024-07-13 09:11