Whale Sells 1010 NFTs in Under 48 Hours “Possibly the Greatest Dump Ever”‍

Non-fungible token (NFT) whale Jeffrey Hwang, also known as Machi Big Brother, sold 1,010 tokens for 11,680 ETH, or $18.6 million, in under 48 hours, according to Nansen data.

‍Nansen's simian psychometric enhancement technician, Andrew Thurman, spotted the trading activity over the previous two days and said it's "possibly the greatest NFT dump ever" in a thread on Twitter on February 25.

Machi Big Brother has reportedly sold 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs, and 308 Otherdeed NFTs, to name a few.

Nevertheless, Machi Big Brother promptly purchased back 991 NFTs, prompting Thurman to speculate that it may be a strategy to book some profits while also conducting "one massive wash trade to generate huge Blur airdrop profits" or a " market manipulation."

According to reports, Machi is one of the major receivers of the $BLUR token airdrop from booming NFT marketplace Blur, which just overtook OpenSea in terms of trading volume.

Blockchain analytics firm Arkham Intel said on February 17 that Machi had received 1.8 million BLUR and cashed it out for $1.3 million.

A few of the collections that Machi has dropped including BAYC, MAYC, and Otherdeed NFTs plummeted  7.77%, 9.2%, and 8.16%, respectively, according to NFT Price Floor statistics.