2024

BLAST

Base

Spot

<ul>
 <li><strong>Machi Big Brother sold 18.4M BLUR tokens, resulting in a $3.16M loss.</strong></li>
 <li><strong>BLUR dropped 7%, and trading volume surged 81%, hitting $0.1595.</strong></li>
</ul>
<p>Jeffrey Huang,&nbsp; 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.</p>
<p>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 <a href="https://coinmarketcap.com/currencies/friend-tech/" target="_blank" rel="noopener noreferrer nofollow">FRIEND</a> ($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 $0.1595.</p>
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Machi Big Brother (<a href="https://twitter.com/machibigbrother?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@machibigbrother</a>) has allegedly dumped all <a href="https://twitter.com/search?q=%24BLUR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BLUR</a> at a $3.16M loss!<br><br>In the past 24 hours, he deposited all 18.4M <a href="https://twitter.com/search?q=%24BLUR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BLUR</a> ($3.13M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a>, causing the price to drop after each deposit!<br><br>Note that his other notable holdings are not doing well either!… <a href="https://t.co/fF8jH81jT4" rel="noopener noreferrer nofollow">pic.twitter.com/fF8jH81jT4</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1811604105649094952?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 12, 2024</a>
 </blockquote>
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</div>
<h3 class="wp-block-heading" id="h-more-losses-ahead">More Losses Ahead?</h3>
<p>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 <a href="https://thenewscrypto.com/is-an-ethereum-eth-bull-rally-on-the-horizon/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> 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.”</p>
<p>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, <a href="https://x.com/ambient_finance" target="_blank" rel="noopener noreferrer nofollow">according</a> to Ambient Finance.</p>
<p>Huang’s portfolio, reflecting losses in BLUR, <a href="https://thenewscrypto.com/orbs-launches-liquidity-hub-on-fenix-finance-for-enhanced-liquidity-on-blast/" target="_blank" rel="noopener noreferrer nofollow">BLAST</a>, 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.</p>
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What’s Next for Machi Big Brother After $3M Trading Loss?

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