NFT whale Jeffrey Hwang sold 1010 NFTs in 48 hours, performing the “largest NFT dump” ever.
NFT whale Jeffrey Hwang, popularly known as “Machi Big Brother”, attracted attention by selling 1,010 NFTs. Hwang earned 11,680 Ethereum ($18.7 million) for these transactions. While it’s not clear why Hwang was dumping a record high of NFT, the predictions are starting to come in. Many crypto users consider this transaction to be a preparation for the upcoming activity.
Machi Big Brother Sold 1010 NFTs
Nansen development technician Andrew Thurman said on Twitter that Jeffrey Hwang’s NFT sales were “probably the largest NFT dump ever.”
Nansen’s Thurman suggested that Hwang’s NFT sales may have been made to collect extra BLUR token rewards while also making some profit, due to the preparation of a second airdrop on the Blur platform.
In what's likely the largest NFT dump ever, in the past 48 hours Machi has sold 1,010 NFTs, including:
– 90 BAYC for 5707 ETH
– 191 MAYC for 3091 ETH
– 112 Azuki for 1644 ETH
– 308 Otherdeed for 582 ETHBut he's not registering much profit for these collections. Why? pic.twitter.com/4NyMF3gzuy
— Andrew T (@Blockanalia) February 24, 2023
In this sales event, which was held by Hwang, who sold 1,010 NFTs, 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs and 308 Otherdeed NFTs were sold.
Besides the popular NFTs, Hwang has also discontinued many NFT products. He earned a total of $18.7 million in Ethereum revenue from these transactions. In addition, Hwang quickly bought back 991 NFTs after the sale. Evaluating this remarkable move, Thurman claimed that it was done for participation in the Blur airdrops and to make a little profit.
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