{"id":6374,"date":"2023-06-25T19:50:31","date_gmt":"2023-06-25T23:50:31","guid":{"rendered":"http:\/\/leadingcryptonews.com\/bored-ape-yacht-club-nft-prices-plunge-as-machi-big-brother-makes-major-moves\/"},"modified":"2023-06-25T19:50:31","modified_gmt":"2023-06-25T23:50:31","slug":"bored-ape-yacht-club-nft-prices-plunge-as-machi-big-brother-makes-major-moves","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/bored-ape-yacht-club-nft-prices-plunge-as-machi-big-brother-makes-major-moves\/","title":{"rendered":"Bored Ape Yacht Club NFT Prices Plunge as Machi Big Brother Makes Major Moves"},"content":{"rendered":"<p> <br \/>\n<br \/><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/img.decrypt.co\/insecure\/rs:fill:1024:512:1:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2022\/10\/bored-apes-ethereum-sec-money-gID_7.jpeg@png\" \/><\/noscript><\/p>\n<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58;text-align:left\">\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The price of Bored Ape Yacht Club NFTs saw turbulence over the weekend as Jeffrey Huang, also known as Machi Big Brother, initiated a a flurry of Bored Ape sales and then followed up with several purchases of NFTs from the collection.<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">In total, Huang sold over 50 Apes over the past couple of days, according to data from NFT marketplace <\/span><span style=\"font-weight:400\">Blur<\/span><span style=\"font-weight:400\">. In one <\/span><span style=\"font-weight:400\">transaction<\/span><span style=\"font-weight:400\"> alone on Saturday, Huang cashed in 19 Apes at once for 651 Ethereum on Blur, worth around $1.2 million, as of this writing.<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">\u00a0<\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Viewed widely as one of the leading NFT collections, the floor price of Bored Ape Yacht Club NFTs has already <\/span><span style=\"font-weight:400\">faced pressure<\/span><span style=\"font-weight:400\"> over the past several months, but the collection sank to its lowest point priced in Ethereum since November 2021 amid Huang\u2019s moves.<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">For comparison, the floor price for Bored Ape NFTs peaked at around 152 Ethereum in April 2022. But the so-called \u201cblue chip\u201d NFT collection saw that figure recently skid to around 33 Ethereum or $62,000, according to <\/span><span style=\"font-weight:400\">NFT Price Floor<\/span><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">NFTs are unique digital tokens tied to the ownership of an item, often digital art. And the Bored Ape Yacht Club collection is valued at over $737 million, <\/span><span style=\"font-weight:400\">second only to<\/span><span style=\"font-weight:400\"> Crypto Punks in terms of market capitalization.<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The Bored Ape Yacht Club collection rebounded somewhat on Sunday after Huang scooped up 14 Bored Apes, purchasing one NFT from the collection for as much as 41 Ethereum, or over $77,000. The cheapest Bored Ape currently costs around $74,000, an increase of 14% over the past day, according to <\/span><span style=\"font-weight:400\">NFT Price Floor<\/span><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Around the time he began accumulating Bored Apes on Sunday, Huang said on Twitter that the \u201cbest meme wins an ape,\u201d attaching an image of himself holding a shotgun to be used as a template for creating memes.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Huang\u2019s high-profile Bored Ape trades come just over a week after pseudonymous blockchain sleuth ZachXBT disclosed he is being sued by Huang for defamation.\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The <\/span><span style=\"font-weight:400\">lawsuit<\/span><span style=\"font-weight:400\"> concerns an investigative article posted by ZachXBT last year, where he accused Huang of embezzling tens of millions of dollars worth of Ethereum from a defunct crypto treasury management platform, which was co-founded by Huang.<\/span><\/p>\n<p class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">ZachXBT has described the lawsuit as \u201cbaseless\u201d and \u201can attempt to chill free speech,\u201d <\/span><span style=\"font-weight:400\">raising over $1 million<\/span><span style=\"font-weight:400\"> in donations to fund his legal defense, while Huang has maintained allegations in the article are false and that he was \u201cunlawfully defamed.\u201d <\/span><\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-left p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl mb-6 md:text-center gg-dark:text-white\">Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/decrypt.co\/146137\/bored-ape-yacht-club-nft-prices-plunge-machi-big-brother\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Bored Ape Yacht Club NFTs saw turbulence over the weekend as Jeffrey Huang, also known as Machi Big Brother, initiated a a flurry of Bored Ape sales and then followed up with several purchases of NFTs from the collection. In total, Huang sold over 50 Apes over the past couple of days, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"class_list":["post-6374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending-cryptos"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bored Ape Yacht Club NFT Prices Plunge as Machi Big Brother Makes Major Moves - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/bored-ape-yacht-club-nft-prices-plunge-as-machi-big-brother-makes-major-moves\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bored Ape Yacht Club NFT Prices Plunge as Machi Big Brother Makes Major Moves\" \/>\n<meta property=\"og:description\" content=\"The price of Bored Ape Yacht Club NFTs saw turbulence over the weekend as Jeffrey Huang, also known as Machi Big Brother, initiated a a flurry of Bored Ape sales and then followed up with several purchases of NFTs from the collection. 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