In recent crypto markets, Machi Big Brother has emerged as a prominent figure with significant transactions involving BLUR tokens on Binance.
Over the past 24 hours, Machi Big Brother deposited the remaining 5 million BLUR tokens, valued at $816,000, into Binance.
This adds to a series of deposits totaling 18.4 million BLUR across 7 transactions within the last 20 hours, averaging $0.17 per token and amounting to $3.13 million in total. Interestingly, each deposit seemingly contributed to a subsequent drop in BLUR’s market price.
The journey of Machi Big Brother with BLUR has been tumultuous. Starting with a windfall from an airdrop of 1.848 million BLUR in February 2023, swiftly sold for $1.31 million in USDT and ETH, Machi Big Brother initially profited from the tokens. A profitable trade followed in March 2023, purchasing 350,000 BLUR for $186,000 and selling them for $206,000 in ETH, yielding a modest profit of $20,650.
Some Notable Losses Incurred By Machi Big Brother
However, optimism turned to significant losses when Machi Big Brother accumulated 12.446 million BLUR between November 2023 and June 2024 at an average cost of $0.507 per token, totaling approximately $6.30 million. Despite staking these tokens to earn more, the strategy backfired when the staking contract returned 18.47 million BLUR, valued at $2.71 million, on July 5, 2024. Allegedly selling these tokens via Binance and CowSwap at an average price of $0.17 resulted in a realized loss of $3.16 million, marking a substantial decline of 50.2%.
Moreover, Machi Big Brother’s other crypto holdings have also faced challenges. Holding 280 million BLAST tokens valued at $4.53 million, there’s an estimated loss of $1.56 million (26%). Similarly, with 8.8 million FRIEND tokens valued at $1.71 million, losses stand at a staggering $13.8 million (79.8%).
Machi Big Brother (@machibigbrother) has allegedly dumped all $BLUR at a $3.16M loss!
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
— Spot On Chain (@spotonchain) July 12, 2024
These experiences underscore the volatility and risk inherent in crypto investments, highlighting the importance of strategic planning and risk management in navigating the unpredictable crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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