Data from Nansen revealed that nonfungible token (NFT) whale Jeffrey Hwang, commonly known as ‘Machi Big Brother’ has dumped more than 1,000 NFT tokens for 11,680 Ether (ETH) in the span of 48 hours, which equates to a whopping $18.6 million.

The move marks as the largest NFT sell-off in history, according to a Twitter thread by Andrew Thurman, Nansen’s simian psychometric enhancement technician. The sell-off included 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs and 308 Otherdeed NFTs, among others.

Machi Big Brother has bought back nearly 1,000 NFTs, which may indicate that Hwang may seek to profit from these digital tokens by selling them at higher prices in the future, or to conduct “one big wash trade to generate huge Blur airdrop profits” as Andrew Thurman said.

Sources:

https://cointelegraph.com/news/whale-sells-1-010-nfts-in-48-hours-in-largest-nft-dump-ever

https://www.cryptopolitan.com/nft-whale-makes-history-with-a-big-sale/

https://www.investing.com/news/cryptocurrency-news/nft-whale-machi-liquidates-1010-nfts-worth-17-million-3014545

https://crypto.news/whale-sells-1010-nfts-in-largest-nft-dump-ever/