• Machi Big Brother sold 18.4M BLUR tokens, resulting in a $3.16M loss.
  • BLUR dropped 7%, and trading volume surged 81%, hitting $0.1595.

Jeffrey Huang,  popularly known as Machi Big Brother, a former musician, and prominent NFT player, recently dumped all his BLUR tokens at a $3.16M loss. Over the past 24 hours, he deposited 18.4M BLUR ($3.13M) to Binance, causing a price drop with each deposit.

Machi Big Brother’s other holdings aren’t faring well either. He holds 275M BLAST ($4.45M) with an estimated loss of $1.5M and 8.8M FRIEND ($1.71M) with an estimated loss of $13.8M. BLUR is down 7% in the past 24 hours, with trading volume up 81%, hitting a one-week low of $0.1595.

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

More Losses Ahead?

Three days ago, FRIEND, the token for Web3 social network Friend.tech, dropped 27.18%. This followed co-founder Racer’s public desire to leave Base, the Ethereum Layer-2 network hosting the project. Racer posted on X, “System design bounty: If you can figure out a way to migrate friend.tech off of Base without causing major issues for users, and it works well enough that we decide to use it, we will pay you $200K.”

Additionally, Blast, a Layer 2 blockchain, recently distributed 17% of its token supply to those who farmed points by staking ETH earlier this year. The token debuted at around $0.03, with an initial fully diluted market cap of $3 billion, according to Ambient Finance.

Huang’s portfolio, reflecting losses in BLUR, BLAST , and FRIEND, underscores the high volatility and risk in the cryptocurrency market. Analysts take on the perspective that his recent financial setbacks demonstrate that even seasoned investors face significant challenges.

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