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.
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%).
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.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: aoo3771/123RF // Image Effects by Colorcinch
The Fresh New Memecoin Leaving Rivals (PEPE) and (BONK) For Dead A new memecoin has…
The world of finance is going through a seismic shift, and at the heart of…
Discover How Qubetics Solves Blockchain Fragmentation with Interoperability and Provides Early Access Through Its Whitelist…
The much-awaited Ether ETF launch was expected to play a massive role in Ethereum’s (ETH)…
Amid the ongoing market-wide correction, decentralized exchanges on Ethereum (ETH) have recorded substantial increments in…
It's the season of bears in the crypto market, and even the top altcoins are…