A Moonbirds giant whale cleared 500 Moonbirds in nearly 24 hours, losing 719.49ETH

On March 12, according to Blur’s market data, the Moonbirds NFT whale address (0xb8… 551a) began clearing its Moonbirds NFT holdings at Blur at about 6 p.m. on March 11, with a total clearing of about 500 Moonbirds and a loss of about 719.49ETH. In the past 24 hours, the trading volume of Monnbirds exceeded 5500ETH, and the floor price fell 23.86% to 4.66ETH.

Interpretation of this information:

The message reports on a significant change occurring in the trading of Moonbirds NFT, where the whale address of 0xb8…551a began clearing its Moonbirds NFT holdings at Blur, resulting in a loss of around 719.49ETH. The selling impact is reflected in the trading volume of Moonbirds NFT, which exceeded 5500ETH within 24 hours, and the floor price decline of 23.86% to 4.66ETH.

The sudden clearing of the Moonbirds NFT holdings by the whale address of 0xb8…551a suggests a decline in confidence in the digital assets from a significant player. The considerable loss of 719.49ETH also indicates the substantial value of the holdings liquidated. The selling impetus by the whale address can cause a domino effect on other investors, leading to a significant drop in the floor price of the NFT. The 23.86% decline in the floor price to 4.66 ETH is a considerable drop that can cause further selling momentum and significant losses for investors who hold the digital assets.

The high trading volume of more than 5500 ETH indicates that investors are actively buying and selling Moonbirds NFT, trying to capitalize on the dip in the floor price. The surge in trading activity can recover the floor price to some extent as increased buying cushion the selling pressure caused by the whale’s address. However, the recovery of the Moonbirds NFT value may significantly depend on the market sentiment, and longer-term holders may have to hold their assets for a longer duration to see appreciable returns.