Blur Airdrop Evidently Benefited Wash Traders as per Data - TheNewsCrypto

• The top claimant of the BLUR airdrop received about 3.2 million BLUR tokens.
• The asset prices aren’t high enough to arouse suspicion.

Some of the top traders in the world received more than $1 million worth of BLUR tokens during today’s anticipated airdrop for the rising NFT marketplace Blur. More than $1.9 million worth of Ethereum-based governance tokens were acquired by the top traders.

Dune’s curation of public blockchain data shows that the top claimant of the BLUR airdrop received about 3.2 million BLUR tokens.

Indicative of Wash Trading

This massive hoard of tokens was claimed by a brand new Ethereum wallet that was just established a few months ago, but its owner remains unknown for the time being. Moreover, it has been quite active in the NFT market, exchanging substantial quantities of Mutant Ape Yacht Club and Otherside NFTs in recent days.

Trading data from the wallet indicates the owner has been buying and selling large quantities of the same NFTs repeatedly, which may be indicative of wash trading or at least a concerted attempt to rig the Blur trading mechanism. The asset prices aren’t high enough to arouse suspicion, but the number of trades is over the roof.

Looking at the wallets of the second-and third-highest claimants reveals interesting patterns of contact with the top wallet, such as batch sales of different NFTs conducted back and forth through Blur.

That again suggests either coordinated trading by a single person or group across numerous wallets or wash trading by the same person or group. It’s not immediately evident who controls these wallets, either, like the top wallet, but they’re all connected in what seems like a massive and successful effort to influence the Blur airdrop, which has boosted the marketplace trading volume for Blur.

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