Digital Asset Whale Dumps 139 NFTs for $9.8M

NFT whale

An unnamed digital asset whale has dumped 139 non-fungible tokens (NFTs) for over $9.8 million.

Whale refers to individuals or organizations with substantial units of a particular asset, such as a cryptocurrency or an NFT. It also refers to those with funds large enough to purchase a sizable portion of an asset. In most cases, the actions of whales are capable of causing ripple effects on the prices of any asset they trade.

An NFT whale’s actions can sometimes affect a token’s floor price. The floor price is the minimum price a non-fungible token can be traded on the market.

NFT Whale Part Ways With 139 NFTs

According to data on the popular NFT marketplace, OpenSea, the NFT whale sold 139 NFTs within an hour.

A breakdown of the NFTs showed that 72 Bored Ape Yacht Club (BAYC) NFTs, 11 Mutant Ape Yacht Club (MAYC) NFTs, 7 Azuki NFTs, 32 Otherdeeds NFTs, 17 BEANZ NFTs, were sold in the secondary market. After the entire sale, the wallet recorded a portfolio of only nine MAYC NFTs.

Interestingly, the NFT whale’s sell actions did not disturb the floor prices of the assets. Data on the NFT aggregator platform, NFTPriceFloor, shows that NFT collections, such as BAYC, MAYC, and Otherdeeds, have a floor price of 69.4 ETH, 16.3 ETH, and 2 ETH, respectively.

Who Is the NFT Whale?

The whale’s personal information was undisclosed on OpenSea. A few things known about the OpenSea account with the display name, C88FDE, show that it was created this month. All NFTs in the wallet were received on February 21. 

Most of the NFTs transferred from C88FDE went to the NFT wallet of the OpenSea user, MachiBigBrother. 

MachiBigBrother, who has a Twitter profile with the same pseudonym, bags over 3,400 NFTs. The wallet contains a substantial number of BAYC and MAYC NFTs.

Meanwhile, an analysis by the Web 3 game engine Moonstream revealed that over 80% of Ethereum-based NFTs are held by whales. Another researcher named Hildobby showed that 45% of NFT trades on Ethereum are wash/fake.

Image: Midjourney

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