Big Crypto Whale Continues to Sell $APE and Buy This Altcoin Instead – $6 Million Invested Already
A large crypto whale nicknamed “Machi Big Brother” is making major moves in the market recently. According to data from LookOnChain, this whale has been systematically selling holdings of ApeCoin (APE) while accumulating a sizable position in Blur (BLUR) over the past few months.
Specifically, Machi Big Brother has sold 6.5 million APE (worth $10.4 million) at an average price of $1.60 since November 24, 2022. This came after he previously bought 6.12 million APE ($9.34 million) from Binance and DEXs at $1.53 on average and staked them, reaping a tidy profit of $1.4 million.
At the same time, he has been aggressively buying up BLUR tokens. Starting on November 23, 2022, Machi Big Brother has acquired 11.8 million BLUR ($6 million) so far at $0.51 per token. He currently holds 250,000 APE valued at $358,000 after his selling spree and BLUR position of over $6 million.
BLUR’s price has surged 20% today to $0.67, continuing an uptrend likely fueled by the whale’s purchases combined with our recent report on BLUR unlocking $32.55 million worth of tokens for 8th time. The accumulating buying pressure from Machi Big Brother highlights strong confidence in BLUR’s potential.
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Show more +In the meantime, his dumping of APE coins on the market adds extra downward momentum for APE. This big crypto whale clearly sees more long-term upside in backing BLUR instead of APE at the moment. With over $6 million invested already, Machi Big Brother’s movements could foreshadow where smart money is flowing in the crypto sector.
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