The awaited BLUR token airdrop was conducted by Blur, a rapidly growing NFT marketplace. Tokens with a current market value of more than $1 million were amassed by the top traders. The leading trader acquired governance tokens based on Ethereum for about $1,9 million.
The public blockchain data of Dune reveals that the highest BLUR airdrop recipient received approximately 3.2 million tokens, which are worth $1.93 million at CoinGecko’s $0.60 price.
The Ethereum wallet claiming ownership of the large token hoard was created less than three months ago, but its owner is unknown. In recent days, it has exchanged a massive volume of Mutant Ape Yacht Club and Otherside NFTs.
The wallet holder has repeatedly purchased and sold the same NFTs, suggesting wash trading or a concerted effort to scam the Blur trading process. The sale prices are not strange, but the assets are moved often, resulting in a substantial trading volume.
The second- and third-highest claimants’ wallets suggest a number of interactions with the highest wallet, including Blur batch sales of multiple NFTs.
Money printer go BLURRRRR. I just received 610658.739770709 $BLUR from @BLUR_io’s Season 1 drop. Season 2 begins NOW. Start listing and bidding on Blur to get a head start on Season 2 rewards. pic.twitter.com/7Y3i6m8MMW
— Keungz (@keung) February 14, 2023
It implies coordinated wash trade or the use of many wallets by a single individual or group. As with the top wallet, it is unknown who owns these wallets, but they appear to be part of a large-scale and successful attempt to manipulate the Blur airdrop, hence raising the amount of Blur’s marketplace trades.
Famous collectors and social media icons such as Machi Big Brother (almost 1.85 million BLUR, or $1.1 million in value), Keungz (610K, $368,500), and Franklin (540K, $325,000) also claimed Blur during the airdrop.
The market cap of 360 million BLUR tokens after the airdrop was $217 million. However, once all tokens have been distributed, the total supply of BLUR will be 3 billion. Almost 260 million airdropped tokens have been claimed, representing 72%.
After debuting today at $5.02 per token, BLUR fell. It is 88% below its brief high point.
Content Source: decrypt.co
Cover Image Source: decrypt.co
