Massive Moonbirds NFT Sell-Off by Whale Causes 23.86% Floor Price Drop and Over 700 ETH Loss

In recent news, a major NFT whale address, known as the Moonbirds NFT whale, has begun liquidating its Moonbirds NFT on Blur. This event has resulted in the sale of 500 Moonbirds, causing the whale to incur a loss of approximately 719.49 ETH.

The Moonbirds NFT is a popular digital art collectible that has gained significant attention in the NFT community. With its unique design and limited availability, it has become a sought-after item among collectors and investors. In the past 24 hours, the trading volume of Moonbirds has exceeded 5,500 ETH, indicating the popularity of the asset.

Source: NFTtrack.ai

Despite its popularity, the sale of 500 Moonbirds by the Moonbirds NFT whale has caused a significant drop in the floor price of the asset. The floor price, which is the minimum price at which the NFT can be sold, has fallen by 23.86% to 4.66 ETH. This drop in price is likely due to the large number of NFTs being sold by the whale, which has flooded the market and caused a decrease in demand.

The Moonbirds NFT whale’s decision to liquidate its holdings has caught the attention of the NFT community, as it has resulted in significant losses for the whale. This event highlights the volatility of the NFT market, where sudden changes in supply and demand can lead to dramatic fluctuations in price.

It remains to be seen how the Moonbirds NFT market will respond to the whale’s liquidation, and whether the market will recover from the drop in price. Nevertheless, this event serves as a reminder to investors and collectors in the NFT space that the market can be unpredictable, and that caution should be exercised when making investment decisions.

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