02-25-2023, 06:36 AM
Two BAYC whales sold 72 APES and caused 23% drop in price in just 6 hours
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11b39vz/two_bayc_whales_sold_72_apes_and_caused_23_drop/"> <img src="https://external-preview.redd.it/qlS1bD-v5dU5bTqzMjX942ecvSOt3BEqfPTDW8eSEE8.jpg?width=108&crop=smart&auto=webp&s=f2b3c2a0b00053465047765fa38adadb49a6b921" alt="Two BAYC whales sold 72 APES and caused 23% drop in price in just 6 hours" title="Two BAYC whales sold 72 APES and caused 23% drop in price in just 6 hours" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>Two BAYC whales sold 72 BAYC NFTs for approximately 78 ETH each for a total of around $9 million.</p> <p>This started a cascade of panic sellers and the price of apes dropped 23% in just 6 hours.</p> <p><a href="https://preview.redd.it/l7jir9szi7ka1.png?width=872&format=png&auto=webp&s=b160cb937b9cd7470ba67a6d3d6db6ae5e2606c5">BAYC 23% dip in just 6 hours - Chart from OpenSea BAYC page</a></p> <p>The owners announced their selling beforehand. Here's a full tweet:</p> <p><em>After a lot of thinking, today we decided to utilise current NFT liquidity and take profits on our Apes + Mutants. We still own a lot of Yuga assets and continue to be bullish on what they are building. This team changed our lives. We paid full royalties. We will be back.</em></p> <p>Followed by: <em>Take liquidity when it is plentiful. Deploy it when it is sparse.</em></p> <p>Source: <a href="https://twitter.com/rektmando/status/1628218393546354690">https://twitter.com/rektmando/status/1628218393546354690</a> and <a href="https://twitter.com/rektmando/status/1628230494386003969">https://twitter.com/rektmando/status/1628230494386003969</a></p> <p>On average this dump on costs each Bored Ape holder around $20000 per ape</p> <p>BAYC will likely recover but this is another blow on already wounded OpenSea. Competition is gettin heated
</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Chysce"> /u/Chysce </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11b39vz/two_bayc_whales_sold_72_apes_and_caused_23_drop/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11b39vz/two_bayc_whales_sold_72_apes_and_caused_23_drop/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11b39vz/two_bayc_whales_sold_72_apes_and_caused_23_drop/"> <img src="https://external-preview.redd.it/qlS1bD-v5dU5bTqzMjX942ecvSOt3BEqfPTDW8eSEE8.jpg?width=108&crop=smart&auto=webp&s=f2b3c2a0b00053465047765fa38adadb49a6b921" alt="Two BAYC whales sold 72 APES and caused 23% drop in price in just 6 hours" title="Two BAYC whales sold 72 APES and caused 23% drop in price in just 6 hours" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>Two BAYC whales sold 72 BAYC NFTs for approximately 78 ETH each for a total of around $9 million.</p> <p>This started a cascade of panic sellers and the price of apes dropped 23% in just 6 hours.</p> <p><a href="https://preview.redd.it/l7jir9szi7ka1.png?width=872&format=png&auto=webp&s=b160cb937b9cd7470ba67a6d3d6db6ae5e2606c5">BAYC 23% dip in just 6 hours - Chart from OpenSea BAYC page</a></p> <p>The owners announced their selling beforehand. Here's a full tweet:</p> <p><em>After a lot of thinking, today we decided to utilise current NFT liquidity and take profits on our Apes + Mutants. We still own a lot of Yuga assets and continue to be bullish on what they are building. This team changed our lives. We paid full royalties. We will be back.</em></p> <p>Followed by: <em>Take liquidity when it is plentiful. Deploy it when it is sparse.</em></p> <p>Source: <a href="https://twitter.com/rektmando/status/1628218393546354690">https://twitter.com/rektmando/status/1628218393546354690</a> and <a href="https://twitter.com/rektmando/status/1628230494386003969">https://twitter.com/rektmando/status/1628230494386003969</a></p> <p>On average this dump on costs each Bored Ape holder around $20000 per ape</p> <p>BAYC will likely recover but this is another blow on already wounded OpenSea. Competition is gettin heated
</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Chysce"> /u/Chysce </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11b39vz/two_bayc_whales_sold_72_apes_and_caused_23_drop/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11b39vz/two_bayc_whales_sold_72_apes_and_caused_23_drop/">[comments]</a></span> </td></tr></table>