(Date: Monday 12 July 2024, 04:18 AM GMT):
In the cryptocurrency market today, Huang Licheng, also known as Machi Big Brother (@machibigbrother), has reportedly sold off all his $BLUR tokens, incurring a significant loss. According to Spot on Chain, he has dumped his entire holding of 18.4 million BLUR tokens, resulting in a staggering $3.16 million loss.
Over the past 24 hours, Licheng deposited all 18.4 million BLUR tokens, worth $3.13 million, to Binance. Each deposit led to a noticeable drop in BLUR’s price, reflecting the market's sensitivity to large-scale transactions.
Licheng’s other notable holdings aren't faring well either. He currently holds:
- 275 million $BLAST tokens, valued at $4.45 million, with an estimated loss of $1.5 million.
- 8.8 million $FRIEND tokens, valued at $1.71 million, with an estimated loss of $13.8 million.
At the time of writing, the BLUR token is trading at $0.01621, having dropped by 7.07% in the last 24 hours. The market capitalization of BLUR stands at $280 million.
The substantial losses incurred by Licheng highlight the potential consequences of large-scale liquidations and the importance of cautious trading strategies.
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