(Date: Monday 12 July 2024, 04:10 AM GMT):
In a notable move in the cryptocurrency market, Huang Licheng, also known as Machi Big Brother (@machibigbrother), has reportedly liquidated all his BLUR tokens, resulting in a significant loss. According to data from Spot on Chain, Licheng’s decision to dump 18.4 million BLUR tokens has cost him approximately $3.16 million.
Machi Big Brother (@machibigbrother) has allegedly dumped all $BLUR at a $3.16M loss!
— Spot On Chain (@spotonchain) July 12, 2024
In the past 24 hours, he deposited all 18.4M $BLUR ($3.13M) to #Binance, causing the price to drop after each deposit!
Note that his other notable holdings are not doing well either!… pic.twitter.com/fF8jH81jT4
Over the past 24 hours, Licheng deposited all his BLUR tokens, valued at $3.13 million, to Binance. This massive sell-off has had a noticeable impact on the token’s price, which dropped significantly after each deposit.
Licheng’s other notable holdings are also facing substantial losses:
- 275 million BLAST tokens valued at $4.45 million, with an estimated loss of $1.5 million.
- 8.8 million FRIEND tokens valued at $1.71 million, with an estimated loss of $13.8 million.
As of this writing, the BLUR token is trading at $0.01621, having dropped by 7.07% in the last 24 hours. The current market capitalization of BLUR stands at $280 million.
The cryptocurrency market continues to be highly volatile, and large movements like this by influential holders can have significant effects on token prices. Investors should stay informed and consider these factors when making their investment decisions.