Many people have participated in blur farming without knowing who they are against. As a professional trader, I have been able to profit from anticipating market manipulators' moves. In this thread, I'll share some analysis on one particular manipulator.
This manipulator is worth watching: @9082D2, who is ranked 5th on blur's farming leaderboard. This is a new account made just 6 days ago.
Here's how this manipulator operates. They usually bid for a collection of over 30-80 items, and there will be a short time period where they start to increase their bid sharply with large amount size.
This is followed by a number of other bidders increasing their bid price along with them. This is called spoofing the market and is illegal in financial markets.
9082D2 will then sell all their holdings to the remaining bidders in one go, making a profit + blur points, leaving the uninformed bidders with bags of NFTs at inflated prices.
These uninformed bidders will then sell them for a loss to get out of the risk, which usually results in a cascade effect in price. These 50-80 NFTs will get passed to many rounds of bidders all at a loss until they finally stabilize later on.
The manipulator will come back again and start bidding, usually on the top projects such as clonex, doodles, pudgy penguins, and moonbirds.
So, how can we profit from this? Don't bid along if you don't know who has been buying. If you see them start buying, you should buy along before they pump up the price and sell to them.
After rounds of dumping happened, it's always a good time to start bidding on these collections as likely the price is just oversold.
As a community, we need to fight against the bad players. Please comment below if you find any other players with similar actions. Let's team up and protect ourselves from these manipulators. #blurfarming #NFTs #marketmanipulation #communityfightback
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