This Whale Sells 500 Moonbirds NFTs on BLUR Taking Massive Losses

UTC by Bhushan Akolkar · 2 min read
This Whale Sells 500 Moonbirds NFTs on BLUR Taking Massive Losses
Photo: Shutterstock

The whale address has liquidate all its Moonbirds NFTs incurring losses as high 32% on its investments.

Over the last weekend, an Ethereum whale address sold a massive 500 NFTs of the Moonbirds collection. However, data shows that the whale ended up incurring losses anywhere between 9% and 33%.

The Ethereum whale sold 500 Moonbirds NFTs in different batches. Data shows that a batch of 200 Moonbirds NFTs sold for a loss greater than 32%. According to NFTTrack, all the transactions took place on the NFT marketplace Blur and the total amount of losses stands at 700 Ether or more.

Now, the whale address in question is no longer holding any NFTs as its Ether balance has dropped below 0.001 ETH ($1.21). Soon after the sale, the floor price of the Moonbirds NFTs dropped by a staggering 27% in the last 24 hours. Popular crypto analyst Colin Wu reported:

“The Moonbirds NFT whale address (address: 0xb8…551a) began to liquidate its Moonbirds NFT on Blur. It has liquidated 500 Moonbirds and lost about 719.49 ETH. In the past 24h, the trading volume of Monnbirds exceeded 5,500 ETH, and the floor price fell 23.86% to 4.66 ETH.”

However, some enthusiasts and traders celebrated the selling by the whale adding that the drop in floor price gave them an opportunity to get their hands on the Moonbirds non-fungible tokens.

Moonbirds NFTs and Blur Marketplace

Moonbirds is now among the “blue-chip” NFT collection and made headlines last year when one single Moonbirds NFT sold for a staggering 350 Ether of $1 million. The launch of Moonbirds NFTs created a massive craze among users with $292 million worth of sales just in two days of launch.

It is a collection of 10,000 Ethereum-based NFTs which features unique owl avatars with rare traits such as mohawks, eye patches and fiery eyes. The underlying organization behind the launch of Moonbirds non-fungible tokens is PROOF. Since then, Moonbirds has also been conducting fundraising on a timely basis.

NFT Marketplace Blur also came into existence last year and raised more than $11 million in its early days. The Blur NFT Marketplace also rose to fame in a very short period of time and emerged as the top marketplace leaving behind the like of OpenSea.

Last month, the Blur NFT marketplace launched its native token BLUR through an airdrop. This token will allow users to participate in the governance of the Blur marketplace.

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