Traders’ Binance Sell-Off Triggers BLUR Price Drop of 7%

• Machi Big Brother’s massive BLUR transfer to Binance caused a sharp 7% price drop
• Blur’s active addresses skyrocketed, peaking at over 16,000 in late June before falling

Major sell-off by Machi Big Brother

The value of the BLUR token dropped 7% following the actions of prominent trader Machi Big Brother. The trader transferred all of his tokens to Binance, raising concerns among investors about a potential large-scale sell-off. Spot On Chain reported that Machi Big Brother deposited 18.4 million tokens worth about $3.13 million on Binance. This move was perceived by many as a sign of impending sales, causing the cryptocurrency’s price to drop 7% over the past 24 hours. The average price of tokens sold was $0.170 per token.

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Machi Big Brother’s major transaction has raised concerns about the influence of major traders on the token markets. Investors are worried about further declines, reflecting a cautious sentiment in the community. The transaction also shed light on Machi Big Brother’s other holdings, which are also posting losses. He holds 275 million Blast tokens with an estimated loss of $1.5 million and 8.8 million Friend tokens with an estimated loss of $13.8 million.

At the time of writing, BLUR was trading at $0.162 with a 24-hour trading volume of $48,717,611. Despite the recent drop, BLUR has seen a 9.38% price increase over the past seven days. The market remains volatile and is influenced by large trader activity and market sentiment.

Active Addresses and Whale Transactions

In fact, data from Santiment showed an increase in active BLUR addresses starting in late June, peaking at over 16,000 addresses. However, by mid-July, the number quickly dropped to 2,445.

The total number of BLUR holders has also been steadily increasing, reaching 56,800 in mid-July.

despite the price fluctuations since mid-March, the total supply of BLUR has remained constant at 3 billion, a sign of growing interest and adoption among users, without causing inflationary changes in the token’s supply.